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Financiarisation et globalisation des stratégies d’entreprise:le cas des multinationales agroalimentaires en Europe

Author

Listed:
  • Florence Palpacuer

    (Université Montpellier 1)

  • Roland Pérez

    (Université Montpellier 1)

  • Selma Tozanli

    (Institut Agronomique Méditerranéen de Montpellier)

  • Julienne Brabet

    (Université Paris 12)

Abstract

(VF)L’article analyse les interactions entre dynamiques actionnariales et concurrentielles dans la stratégie des grandes multinationales agroalimentaires en Europe. Il révèle l’émergence d’un nouveau modèle de firme globale et financiarisée. Ces firmes, d’origine tant européenne qu’américaine, se sont fortement rapprochées des marchés financiers tout en poursuivant des politiques de globalisation de leurs marques et portefeuilles d’activités. Plutôt qu’à une influence univoque des marchés sur la stratégie de la firme, nous concluons à l’existence d’une relation interactive entre les phénomènes de globalisation et de financiarisation.(VA)The paper analyzes interactions between shareholder and competitive dynamics in the strategy of large food multinationals in Europe. These firms of both European and American origins have developed tight linkages to financial markets while globalizing their brands and business portfolios. We highlight the rise, among the largest firms in the sample, of a new model of the global and financialized corporation, and conclude to the existence of an interactive relationship between globalization and financialization, rather than a one-way influence of financial markets on competitive strategies.

Suggested Citation

  • Florence Palpacuer & Roland Pérez & Selma Tozanli & Julienne Brabet, 2006. "Financiarisation et globalisation des stratégies d’entreprise:le cas des multinationales agroalimentaires en Europe," Revue Finance Contrôle Stratégie, revues.org, vol. 9(3), pages 165-189, September.
    • Handle: RePEc:dij:revfcs:v:9:y:2006:i:q3:p:165-189
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    References listed on IDEAS

    as
    1. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    2. repec:dau:papers:123456789/1742 is not listed on IDEAS
    3. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-325, June.
    4. Dore, Ronald & Lazonick, William & O'Sullivan, Mary, 1999. "Varieties of Capitalism in the Twentieth Century," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 15(4), pages 102-120, Winter.
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    Cited by:

    1. Bonizzi, Bruno & Kaltenbrunner, Annina & Powell, Jeffrey, 2019. "Subordinate financialization in emerging capitalist economies," Greenwich Papers in Political Economy 23044, University of Greenwich, Greenwich Political Economy Research Centre.
    2. Palpacuer, Florence, 2008. "Firme-réseau globale et réseaux transnationaux d’ONG : Vers un nouveau mode de régulation ?," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 2.

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    More about this item

    Keywords

    financiarisation; globalisation; agro-alimentaire; multinationales; stratégie; financialization; globalization; agrifood; multinationals; strategy.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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