Advanced Search
MyIDEAS: Login

Mental Patterns, Corporate Finance and Institutional Evolution: The Case of the French Corporate Governance System

Contents:

Author Info

Abstract

Since the middle of the nineteen-eighties, the French system of corporate governance has undergone some major transformations. Originally, it was dominated by the State's important weight in the structures constraining managerial discretion in some of France's largest firms. But, the public administration has increasingly retired from its active role in corporate governance matters. This paper addresses the question of a theoretical explanation of the observed phenomenon of the dynamics of governance. The conceptual framework we propose is to a great extent based on the economic theory of institutional change. It strongly emphasizes the role of so-called 'organizational entrepreneurs', who lead the initiative aiming at a transformation of existing structures. In this context, a country's shared mental pattern is, however, supposed to be a force enhancing path dependence. Theoretical propositions are deduced and applied to the case of the French corporate governance system. The analysis of the latter's evolution yields some encouraging results, indicating that the proposed theory seems globally consistent with empirical facts.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://leg.u-bourgogne.fr/images/stories/wp/1000101.pdf
Our checks indicate that this address may not be valid because: 500 Internal Server Error. If this is indeed the case, please notify (Angèle RENAUD)
Download Restriction: no

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 1000101.

as in new window
Length: 39 pages
Date of creation: Jan 2000
Date of revision:
Handle: RePEc:dij:wpfarg:1000101

Contact details of provider:
Postal: 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France

Order Information:
Postal: Angèle Renaud, CREGO, 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France
Email:

Related research

Keywords: corporate governance; institutional change; organizational entrepreneur; mental pattern; France;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

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.:
as in new window
  1. Arthur T. Denzau & Douglass C. North, 1993. "Shared Mental Models: Ideologies and Institutions," Economic History 9309003, EconWPA.
  2. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-83, June.
  3. Gérard Charreaux, 1996. "Vers une théorie du gouvernement des entreprises," Working Papers CREGO 0960501, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
  4. Castanias, Richard P. & Helfat, Constance E., 1992. "Managerial and windfall rents in the market for corporate control," Journal of Economic Behavior & Organization, Elsevier, vol. 18(2), pages 153-184, July.
  5. Michael C. Jensen, 2010. "The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 43-58.
  6. Erik Berglof, 1997. "Reforming corporate governance: redirecting the European agenda," Economic Policy, CEPR & CES & MSH, vol. 12(24), pages 91-123, 04.
  7. Douglass C. North, 1993. "Five Propositions about Institutional Change," Economic History 9309001, EconWPA.
  8. Peter Wirtz, 2001. "Financial Policy, Managerial Discretion and Corporate Governance : The Example of Usinor," Post-Print halshs-00749637, HAL.
  9. Vives,Xavier (ed.), 2000. "Corporate Governance," Cambridge Books, Cambridge University Press, number 9780521781640, October.
  10. Moerland, Pieter W., 1995. "Alternative disciplinary mechanisms in different corporate systems," Journal of Economic Behavior & Organization, Elsevier, vol. 26(1), pages 17-34, January.
  11. Garvey, Gerald T. & Swan, Peter L., 1994. "The economics of corporate governance: Beyond the Marshallian firm," Journal of Corporate Finance, Elsevier, vol. 1(2), pages 139-174, August.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:dij:wpfarg:1000101. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angèle RENAUD).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.