Advanced Search
MyIDEAS: Login to save this paper or follow this series

Mécanismes de discipline collective des dirigeants vs. mécanismes de réputation : une application au keiretsu financier japonais


Author Info

  • Laurent Soulat


Registered author(s):


    This paper focuses on the mechanisms of collective control, such as in Japanese keiretsu, that is characterized by firms’ groupings, decentralized decision-makings and cross-shareholdings. We develop a model about these mechanisms based on initial incentive contracts offered by shareholders to the manager, with an asymmetric information and with a possibility of compensation payments. These mechanisms of control are compared to reputation control, the latter working on original discount process. The results are obtained with simulations. The efficiency of the collective control depends on the levels of discount coefficient and on the differences in effort costs and expected profits. The collective control tends to dominate for a larger number of environment states for which reputation is inefficient to maintain discipline over the manager only. On the other hand, the reputation appears to be especially for high discounting coefficients, low learning costs or periods, and for high values of accumulated reputation.

    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:
    Download Restriction: no

    Bibliographic Info

    Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number bla05046.

    as in new window
    Length: 60 pages
    Date of creation: Apr 2005
    Date of revision:
    Handle: RePEc:mse:wpsorb:bla05046

    Contact details of provider:
    Postal: 106 - 112 boulevard de l'Hôpital, 75647 Paris cedex 13
    Phone: 01 44 07 81 00
    Fax: 01 44 07 81 09
    Web page:
    More information through EDIRC

    Related research

    Keywords: Incentive theory; corporate governance; reputation and control mechanisms; Japanese keiretsu.;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:


    No references listed on IDEAS
    You can help add them by filling out this form.



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


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:mse:wpsorb:bla05046. 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: (Lucie Label).

    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.