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Gouvernance des entreprises:valeur partenariale contre valeur actionnariale

Author

Listed:
  • Gérard Charreaux

    ()

  • Philippe Desbrières

    (Université de Bourgogne)

Abstract

Unsatisfied with the dominating shareholders'view, that we find unfitted to build a relevant theory of corporate governance, we propose an enlarged definition of the value which may be called, the stakeholder value. This definition and the associated measure are supposed to be more fitted to the stakeholder view of the firm and more relevant to understand the value creation and sharing mechanisms.

Suggested Citation

  • Gérard Charreaux & Philippe Desbrières, 1998. "Gouvernance des entreprises:valeur partenariale contre valeur actionnariale," Revue Finance Contrôle Stratégie, revues.org, vol. 1(2), pages 57-88, June.
  • Handle: RePEc:dij:revfcs:v:1:y:1998:i:q2:p:57-88
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    References listed on IDEAS

    as
    1. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    shareholder value; stakeholder value; corporate governance; value creation; value sharing.;

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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