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Évolution institutionnelle, schémas mentaux et gouvernement des entreprises:le cas Krupp-Thyssen

  • Peter Wirtz

    ()

    (Université de Bourgogne)

A system of corporate governance consists of the set of mechanisms which constrain managerial discretion. A rapid comparison of the institutional contexts of different countries indicates that corporate governance depends on the national environment of the firm. At the same time, national governance systems are not static, but change in time. The aim of this article is to propose a conceptual framework for an explanation of the modifications of the constraints imposed on managerial discretion. The clinical study of the Thyssen-Krupp merger in Germany is an example of the plausibility of our theoretical hypotheses.

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Article provided by revues.org in its journal Revue Finance Contrôle Stratégie.

Volume (Year): 2 (1999)
Issue (Month): 1 (March)
Pages: 117-143

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Handle: RePEc:dij:revfcs:v:2:y:1999:i:q1:p:117-143
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  1. Rafael LaPorta & Florencio Lopez de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," Harvard Institute of Economic Research Working Papers 1788, Harvard - Institute of Economic Research.
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  4. Arthur T. Denzau & Douglass C. North, 1993. "Shared Mental Models: Ideologies and Institutions," Economic History 9309003, EconWPA.
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  8. Douglass C. North, 1993. "Five Propositions about Institutional Change," Economic History 9309001, EconWPA.
  9. 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.
  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. 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.
  12. Julian Franks & Colin Mayer, 1997. "Corporate Ownership And Control In The U.K., Germany, And France," Journal of Applied Corporate Finance, Morgan Stanley, vol. 9(4), pages 30-45.
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