Stakeholder Governance and Organizational Performance: Lessons from past privatizations;Gouvernance partenariale et performance organisationnelle:les enseignements des privatisations passées
Cet article pose deux questions, l'une relative à la problématique fondamentale du lien entre propriété et performance dans le cas emblématique de la privatisation, l'autre relative à la portée explicative de la théorie de la gouvernance. En reconsidérant le débat traditionnel fondé sur le "simple" transfert de propriété au profit d'agents privés, notre réflexion relève d'une analyse des règles du jeu organisationnel qui gouvernent le processus de décision. Dans une perspective partenariale de la valeur, quid des effets de la privatisation sur le processus décisionnel et sur ses interactions avec les mécanismes de gouvernance qui sont supposés l'encadrer ? Ce renouvellement de perspective offre en retour, une opportunité de statuer sur la théorie de la gouvernance partenariale. Cet article sollicite ainsi une réflexion ouverte sur les axes de recherche de la théorie de la gouvernance dans la compréhension d'une logique continue d'adaptation de l'entreprise à son environnement. This paper asks two questions. One is related to the basic links between property and performance in the symbolic case of privatisation. The second question is related to the explanatory power of the corporate governance theory. By re-interpreting the traditional debate based on the "simple" transfer of property to private agents, we analyze the rules of the organizational game which are supposed to govern the decision process. In a stakeholder perspective of the value, what are the effects of privatisation on the decision making process and its links with governance mechanisms? This renewal is an opportunity to examine the stakeholder corporate governance theory. This paper concludes with an open discussion about the research agenda for understanding the adaptative dynamics of the organisation to its environment.
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Paper provided by Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance) in its series Working Papers FARGO with number
1030102.
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