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Corporate governance and trust:an international comparison


  • Odile Paulus
  • Fabrice Roth

    () (Université de Strasbourg 3)


The referring corporate governance approach considers that the firm manager has a central position towards the other stakeholders (SH):shareholders, employees, financial creditors. These SH invest specific capital into the firm. The mechanisms protecting each SH's investment are compared within an international perspective. Trust exists when these mechanisms are incomplete. The American and German models are dominant. In Germany, the shareholders must grant an important trust to the firm manager whereas the financial creditors and the employees enjoy important protection mechanisms. In the US, the protection mechanisms play inverse roles.

Suggested Citation

  • Odile Paulus & Fabrice Roth, 2001. "Corporate governance and trust:an international comparison," Working Papers CREGO 1010701, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
  • Handle: RePEc:dij:wpfarg:1010701
    Note: version française "Gouvernement d'entreprise et confiance:une comparaison internationale", publiée dans Revue d'économie financière, juillet 2001.

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    corporate governance; stakholders; trust;

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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