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Structure de propriété et sous-performance des firmes:une étude empirique sur le marché au comptant, le règlement mensuel et le second marché

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  • Rajaa Mtanios
  • Mathieu Paquerot

    ()
    (Université de Bourgogne)

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    Abstract

    Cet article porte sur l'influence de la structure de propriété sur la sous-performance des firmes de la bourse de Paris. Selon la théorie de l'agence deux composantes de la structure de propriété, la concentration du capital et la nature des actionnaires peuvent influencer la performance. Les résultats font ressortir des différences significatives entre les différents marchés. Ils ne permettent pas, en revanche, de corroborer les hypothèses émises par la théorie de l'agence.

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    File URL: http://leg.u-bourgogne.fr/images/stories/wp/0991202.pdf
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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 0991202.

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    Length: 28 pages
    Date of creation: Dec 1999
    Date of revision:
    Publication status: published in Finance Contrôle Stratégie, vol.2, n°4, décembre 1999, p.157-179.
    Handle: RePEc:dij:wpfarg:0991202

    Note: article publié dans Finance Contrôle Stratégie, vol.2, n°4, décembre 1999, p.157-179.
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    Postal: 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France

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    Postal: Angèle Renaud, CREGO, 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France
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    Related research

    Keywords: théorie de l'agence; structure de propriété; performance; gouvernement d'entreprise.;

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    References

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    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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    6. Gérard Charreaux, 1999. "Gouvernement d'entreprise et comptabilité," Working Papers CREGO 0990601, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
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    13. Gérard Charreaux, 1998. "Le point sur la mesure de performance des entreprises," Working Papers CREGO 0980401, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
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    17. Willard T. Carleton & James M. Nelson & Michael S. Weisbach, 1998. "The Influence of Institutions on Corporate Governance through Private Negotiations: Evidence from TIAA-CREF," Journal of Finance, American Finance Association, vol. 53(4), pages 1335-1362, 08.
    18. William J. Carney, 1997. "Large Bank Stockholders In Germany: Saviors Or Substitutes?," Journal of Applied Corporate Finance, Morgan Stanley, vol. 9(4), pages 74-82.
    19. Gérard Charreaux, 1998. "La théorie positive de l'agence:lecture et relectures..," Working Papers CREGO 0980901, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
    20. Shleifer, Andrei & Vishny, Robert W., 1986. "Large Shareholders and Corporate Control," Scholarly Articles 3606237, Harvard University Department of Economics.
    21. Mehran, Hamid, 1995. "Executive compensation structure, ownership, and firm performance," Journal of Financial Economics, Elsevier, vol. 38(2), pages 163-184, June.
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    23. Anup Agrawal & Charles R. Knoeber, . "Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders (Revision of 29-94)," Rodney L. White Center for Financial Research Working Papers 8-96, Wharton School Rodney L. White Center for Financial Research.
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