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Les critères de détermination de la part variable de la rémunération des dirigeants du CAC 40

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  • Gregory Heem

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    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS : UMR6227 - Université de Nice Sophia-Antipolis)

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    Abstract

    L'objet de cet article est d'analyser les critères de détermination de la part variable de la rémunération des dirigeants des sociétés du CAC 40. La question de l'incitation des managers a le plus souvent été analysée en termes de relation d'agence. Dans la théorie de l'agence, les dirigeants sont des agents qui ont vocation à gérer l'entreprise dans l'intérêt des actionnaires. L'objectif est alors d'accroître la performance financière sans se soucier des intérêts des autres parties prenantes. Les résultats de nos recherches montrent que les dirigeants sont évalués sur des critères de performance financière (résultat net, distribution de dividende, cours de bourse) comme le propose la théorie de l'agence. Les critères sociaux et environnementaux sont quant à eux inexistants.

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    Bibliographic Info

    Paper provided by HAL in its series Post-Print with number hal-00476935.

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    Date of creation: 2010
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    Publication status: Published - Presented, Crises et nouvelles problématiques de la Valeur, 2010, Nice, France
    Handle: RePEc:hal:journl:hal-00476935

    Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00476935/en/
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    Related research

    Keywords: Bonus; théorie de l'agence; performance; rémunération; dirigeants;

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