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Do developments in corporate organisational structures pose financial risks
[Évolution de l’organisation des entreprises : Quels risques financiers?]

Author

Listed:
  • Vivien Levy-Garboua
  • François Mouriaux
  • Tatiana Mosquera Yon
  • Mylène Sabatini

Abstract

Since the 2008 financial crisis, captive financial institutions (special-purpose financial holding companies), subsidiaries of non-financial corporations (NFCs), have helped to drive growth in the financial sector, causing it to outstrip GDP growth. This trend reflects the increasingly complex and international organisational structures adopted by NFCs, but does not appear to have been accompanied by growth in risky financial transactions by these entities. Depuis la crise financière de 2008, les institutions financières captives (holdings financières, entités ad-hoc), filiales de sociétés non financières (SNF), ont contribué à une croissance du secteur financier plus rapide que celle du PIB. Cette dynamique serait le reflet de la structuration de plus en plus complexe et internationalisée des SNF. Cette évolution ne semble toutefois pas s’être accompagnée d’un développement d’opérations financières à risque de leur part.

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Handle: RePEc:bfr:econot:180
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File URL: https://www.banque-france.fr/en/publications-and-statistics/publications/do-developments-corporate-organisational-structures-pose-financial-risks
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File URL: https://www.banque-france.fr/fr/publications-et-statistiques/publications/evolution-de-lorganisation-des-entreprises-quels-risques-financiers
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