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Les déterminants de la "qualité" des conseils d'administration français

  • Laurence Godard


    (Université de Franche-Comté)

  • Alain Schatt


    (Université de Franche-Comté)

Dans cet article, nous vérifions si la "qualité" des conseils d'administration dépend de la structure de propriété et de la politique financière des grandes sociétés cotées en bourse, caractérisées par une séparation de la décision (control) et du contrôle (ownership). En nous basant sur la théorie de l'agence, nous considérons que les conseils sont de meilleure qualité lorsqu'ils comprennent une fraction élevée d'administrateurs indépendants et/ou lorsque les fonctions de direction générale et de présidence du conseil sont dissociées. Pour les 85 sociétés cotées en bourse de notre échantillon, nous confirmons notamment que la qualité des conseils croît avec la fraction d'actions détenues par le public

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Paper provided by Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations in its series Working Papers CREGO with number 1040603.

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Length: 23 pages
Date of creation: Jun 2004
Date of revision:
Handle: RePEc:dij:wpfarg:1040603
Contact details of provider: Postal: 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France

Order Information: Postal: Angèle Renaud, CREGO, 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France

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