IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_2001_num_63_3_3670.html

Le développement de l’assurance-vie en France : analyse et implications pour le système financier et le gouvernement d’entreprise

Author

Listed:
  • Michel Boutillier
  • Fabrice Pansard
  • Bruno Séjourné

Abstract

[eng] Life Insurance in France : Implications on Financial System and Corporate Governance . For twenty years, French household have more and more in life insurance’s savings. This article deals with the consequences of this phenomenon on structures of the financial system and properties of corporate governance. . JEL classifications : E21, G30 [fre] Depuis près de vingt ans, les ménages consacrent une part croissante de leur patrimoine financier aux différentes formules d’assurance-vie. Cette évolution tient évidemment à la fois aux abondements sur les contrats ouverts, à la capitalisation des intérêts et aux effets de valorisation, mais aussi à une diffusion de plus en plus importante de cet actif au sein de la population. À cet effet de masse global, il faut ajouter une autre évolution, liée à la fois aux innovations financières et aux modifications des conditions de rémunération sur les marchés. Compte tenu des montants en jeu, ce phénomène contribue à remodeler les équilibres financiers français ainsi que la propriété et le gouvernement des entreprises françaises. . Classification JEL : E21, G22, G30

Suggested Citation

  • Michel Boutillier & Fabrice Pansard & Bruno Séjourné, 2001. "Le développement de l’assurance-vie en France : analyse et implications pour le système financier et le gouvernement d’entreprise," Revue d'Économie Financière, Programme National Persée, vol. 63(3), pages 67-90.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2001_num_63_3_3670
    DOI: 10.3406/ecofi.2001.3670
    Note: DOI:10.3406/ecofi.2001.3670
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.2001.3670
    Download Restriction: no
    File URL: https://www.persee.fr/doc/ecofi_0987-3368_2001_num_63_3_3670
    Download Restriction: no
    File URL: https://libkey.io/10.3406/ecofi.2001.3670?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Augory, C. & Boutillier, M. & Sejourne, B., 2000. "Le modele de choix de portefeuille des menages de FOE," Papers 2000-15/fi, Caisse des Depots et Consignations - Cahiers de recherche.
    2. Rafael La Porta & Florencio Lopez‐De‐Silanes & Andrei Shleifer, 1999. "Corporate Ownership Around the World," Journal of Finance, American Finance Association, vol. 54(2), pages 471-517, April.
    3. Goergen, M. & Renneboog, L.D.R., 1998. "Strong Managers and Passive Institutional Investors in the UK : Stylized Facts," Discussion Paper 1998-131, Tilburg University, Center for Economic Research.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Michel Boutillier & Agnès Labye & Christine Lagoutte & Nathalie Lévy & Auguste Mpacko Priso & Valérie Oheix & Stéphane Justeau & Bruno Séjourné, 2002. "Placements des ménages en Europe : le rôle des intermédiaires financiers se transforme en profondeur," Économie et Statistique, Programme National Persée, vol. 354(1), pages 85-102.
    2. Aurélie Boubel & Bruno Séjourné, 2001. "Les marchés européens de l'assurance-vie," Revue d'Économie Financière, Programme National Persée, vol. 64(4), pages 145-161.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Peter Temin, 2015. "The Cambridge History of "Capitalism"," Journal of Economic Literature, American Economic Association, vol. 53(4), pages 996-1016, December.
    2. Gilberto E. Arce & Edgar Robles C., 2005. "Corporate Governance in Costa Rica," Research Department Publications 3218, Inter-American Development Bank, Research Department.
    3. Klapper, Leora F. & Love, Inessa, 2004. "Corporate governance, investor protection, and performance in emerging markets," Journal of Corporate Finance, Elsevier, vol. 10(5), pages 703-728, November.
    4. Díez-Esteban, José María & Farinha, Jorge Bento & García-Gómez, Conrado Diego, 2016. "The role of institutional investors in propagating the 2007 financial crisis in Southern Europe," Research in International Business and Finance, Elsevier, vol. 38(C), pages 439-454.
    5. Jeremy Edwards & Wolfgang Eggert & Alfons J. Weichenrieder & Alfons Weichenrieder, 2006. "The Measurement of Firm Ownership and its Effect on Managerial Pay," CESifo Working Paper Series 1774, CESifo.
    6. Boubakri, Narjess & Ghouma, Hatem, 2010. "Control/ownership structure, creditor rights protection, and the cost of debt financing: International evidence," Journal of Banking & Finance, Elsevier, vol. 34(10), pages 2481-2499, October.
    7. Fidrmuc, Jana P. & Jacob, Marcus, 2010. "Culture, agency costs, and dividends," Journal of Comparative Economics, Elsevier, vol. 38(3), pages 321-339, September.
    8. Kamini Gupta & Donal Crilly & Thomas Greckhamer, 2020. "Stakeholder engagement strategies, national institutions, and firm performance: A configurational perspective," Strategic Management Journal, Wiley Blackwell, vol. 41(10), pages 1869-1900, October.
    9. Nicodano, Giovanna & Regis, Luca, 2019. "A trade-off theory of ownership and capital structure," Journal of Financial Economics, Elsevier, vol. 131(3), pages 715-735.
    10. Omran, Mohammed M. & Bolbol, Ali & Fatheldin, Ayten, 2008. "Corporate governance and firm performance in Arab equity markets: Does ownership concentration matter?," International Review of Law and Economics, Elsevier, vol. 28(1), pages 32-45, March.
    11. Yu, Chenyang & Sun, Hanbing & Fu, Changluan, 2022. "Is innovative activity a way to conduct tunneling behavior? Evidence from the seasoned equity offerings of Chinese firms," Finance Research Letters, Elsevier, vol. 46(PB).
    12. Randall Morck, 2011. "Finance and Governance in Developing Economies," Annual Review of Financial Economics, Annual Reviews, vol. 3(1), pages 375-406, December.
    13. Hall, Peter A. & Gingerich, Daniel W., 2004. "Varieties of Capitalism and Institutional Complementarities in the Macroeconomy," MPIfG Discussion Paper 04/5, Max Planck Institute for the Study of Societies.
    14. Lucian Bebchuk & Reinier Kraakman & George Triantis, 1999. "Stock Pyramids, Cross-Ownership, and the Dual Class Equity: The Creation and Agency Costs of Seperating Control from Cash Flow Rights," NBER Working Papers 6951, National Bureau of Economic Research, Inc.
    15. Francesco Caselli & Nicola Gennaioli, 2008. "Economics and Politics of Alternative Institutional Reforms," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(3), pages 1197-1250.
    16. Jongmoo Jay Choi & Hoje Jo & Jimi Kim & Moo Sung Kim, 2018. "Business Groups and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 153(4), pages 931-954, December.
    17. Heinrich, Ralph P., 1999. "Complementarities in Corporate Governance - A Survey of the Literature with Special Emphasis on Japan," Kiel Working Papers 947, Kiel Institute for the World Economy.
    18. He, Wei & Kyaw, NyoNyo A., 2018. "Ownership structure and investment decisions of Chinese SOEs," Research in International Business and Finance, Elsevier, vol. 43(C), pages 48-57.
    19. Vanessa Carvalho Pereira & Antonio Gualberto Pereira & José Sérgio Casé Oliveira, 2023. "Influence of ownership structure on the choice of Big Four independent auditors," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 20(3), pages 316-326, September.
    20. Su, Zhong-qin & Fung, Hung-Gay & Huang, Deng-shi & Shen, Chung-Hua, 2014. "Cash dividends, expropriation, and political connections: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 260-272.

    More about this item

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_0987-3368_2001_num_63_3_3670. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.