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Le gouvernement d’entreprise à l’Est : vers un modèle de contrôle centre-européen ?

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  • Wladimir Andreff

Abstract

[fre] Les structures de gouvernement d'entreprise sont, aujourd'hui, très diverses en Europe de l'Est du fait de la variété des méthodes utilisées pour privatiser les entreprises d'État, des modalités de croissance du secteur privé et du maintien du secteur public. Parmi les nouvelles firmes privées tend à s'imposer un gouvernement d'entreprise fort, exercé par les propriétaires, tandis que parmi les firmes privatisées la dominante est un contrôle par les managers. Une décennie après le début des privatisations, on peut styliser les faits en quatre modèles types de gouvernement d'entreprise : contrôle externe étranger, contrôle banco-managérial, contrôle par une coalition d'outsiders-insiders, contrôle « salarial et start-ups ». Dans les toutes dernières années, des signes de convergence vers un modèle centre-européen de gouvernance apparaissent, combinant un contrôle externe étranger sur les grandes firmes avec un contrôle interne par un propriétaire unique sur de véritables PME privées. . Classification JEL : F36, G34, P31 [eng] Corporate governance Eastern Europe : an East-European control model ? . Corporate governance structures are now varied in Eastern Europe because of the various public firms' privatisation, the private sector's growth and the part of public sector in the economy. First, among new private firms, strong corporate governance, exercised by shareholders, is developing. On the other hand, among privatised firms, managers' control still dominates. Ten years after the beginning of privatisations, four models of corporate governance can be described : foreign control, banking management's control, outsider-insider coalition's control, employees and start-ups control. During the last years, a Central-European governance model has appeared. This model combines foreign control on big firms and internal control by the unique shareholder on small or medium-sized private businesses. . JEL classifications : G34, P31

Suggested Citation

  • Wladimir Andreff, 2003. "Le gouvernement d’entreprise à l’Est : vers un modèle de contrôle centre-européen ?," Revue d'Économie Financière, Programme National Persée, vol. 72(3), pages 173-199.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2003_num_72_3_4878
    DOI: 10.3406/ecofi.2003.4878
    Note: DOI:10.3406/ecofi.2003.4878
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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