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À la recherche du lien perdu entre caractéristiques des dirigeants et performance de la firme : gouvernance et latitude managériale

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  • Gérard Charreaux

    () (Université de Bourgogne)

Abstract

(VF)La théorie des échelons supérieurs de Hambrick et Mason et la théorie de la gouvernance financière postulent toutes deux que les dirigeants ont une influence déterminante sur la performance avec, cependant, une différence très importante concernant l’influence de la latitude managériale. Pour la première, la latitude managériale a une influence potentiellement positive sur la performance en permettant aux capacités cognitives des dirigeants de s’exprimer, pour la seconde, une influence négative, dans la mesure où elle peut conduire à des décisions contraires aux intérêts des actionnaires. L’objectif de cet article est, d’une part, de comparer le contenu et le rôle de la notion de latitude managériale dans ces deux cadres théoriques, d’autre part, de proposer à la lumière des développements cognitifs et comportementaux de la théorie de la gouvernance, un méta modèle qui permettrait de proposer une approche intégratrice de la latitude à même d’offrir une meilleure compréhension du lien entre caractéristiques du dirigeant, système de gouvernance et performance de la firme. (VA)Upper Echelons Theory and financial governance theory both postulate that CEOs have a determining influence on the performance with, however, a very significant difference concerning the influence of managerial discretion. For the first one, managerial discretion has a potentially positive influence on performance by enabling the managers’ cognitive capacities to affect it, for the second one, a negative influence, insofar as it can lead to decisions conflicting with shareholders’ interests. The objective of this article is, on the one hand, to compare the contents and the role of the managerial discretion concept within these two theoretical frameworks, on the other hand, to propose, in the light of the cognitive and behavioral developments of corporate governance theory, a meta model based on an integrative approach of managerial discretion in order to offer a better understanding of the link between CEOs characteristics, corporate governance systems and performance.

Suggested Citation

  • Gérard Charreaux, 2008. "À la recherche du lien perdu entre caractéristiques des dirigeants et performance de la firme : gouvernance et latitude managériale," Working Papers CREGO 1080502, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
  • Handle: RePEc:dij:wpfarg:1080502
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    References listed on IDEAS

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    1. Shleifer, Andrei & Vishny, Robert W., 1989. "Management entrenchment : The case of manager-specific investments," Journal of Financial Economics, Elsevier, vol. 25(1), pages 123-139, November.
    2. Gérard Charreaux & Peter Wirtz, 2006. "Gouvernance des entreprises : nouvelles perspectives," Post-Print halshs-00144927, HAL.
    3. Gérard Charreaux, 2002. "Variation sur le thème:"À la recherche de nouvelles fondations pour la finance et la gouvernance d'entreprise"," Revue Finance Contrôle Stratégie, revues.org, vol. 5(3), pages 5-68, September.
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    Cited by:

    1. Wirtz, Peter, 2011. "The cognitive dimension of corporate governance in fast growing entrepreneurial firms," European Management Journal, Elsevier, vol. 29(6), pages 431-447.
    2. Peter Wirtz & Christophe Bonnet & Laurence Cohen, 2015. "Angel Cognition and Active Involvement in BAN Governance and Management," Working paper serie RMT - Grenoble Ecole de Management hal-01182804, HAL.
    3. Peter Wirtz & Odile Paulus & Patrice Charlier, 2012. "La gouvernance des Dominicains au-delà des théories établies," Working Papers halshs-00691233, HAL.
    4. Peter Wirtz & Christophe Bonnet & Laurence Cohen, 2015. "Angel Cognition and Active Involvement in BAN Governance and Management," Working Papers hal-01182804, HAL.
    5. Anne-Sophie Merot & Frédérique Grazzini & Jean-Pierre Boissin, 2014. "Gouvernance et développement durable : Le cas de la responsabilité élargie du producteur dans une filière de gestion des déchets," Post-Print halshs-01185814, HAL.
    6. Peter Wirtz & Odile Paulus & Patrice Charlier, 2011. "Gouvernance et création de valeur cognitive : L'exemple de l'ordre des prêcheurs," Post-Print halshs-00642977, HAL.
    7. Peter Wirtz, 2008. "L’institutionnalisation croissante du discours sur les «meilleures pratiques» de gouvernance en France:un état des lieux," Working Papers CREGO 1080602, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
    8. Quôc Thai Huynh, 2010. "Les déterminants de l’activisme des actionnaires minoritaires:insuffisance de gouvernance affichée ou de résultats financiers?," Revue Finance Contrôle Stratégie, revues.org, vol. 13(3), pages 95-114., September.
    9. Peter Wirtz, 2013. "Gouvernance et efficacité missionnaire de la Compagnie de Jésus : les enseignements d'une théorie élargie de la gouvernance," Working Papers halshs-00862068, HAL.
    10. Hamza Fadhila & Azouzi Mohamed Ali & Jarboui Anis, 2014. "CEO's commitment bias, ownership concentration, and innovation decision: Behavioral management of CEO's discretion," Cogent Economics & Finance, Taylor & Francis Journals, vol. 2(1), pages 1-24, December.
    11. Peter Wirtz, 2014. "Governance and missionary effectiveness of the Company of Jesus: lessons from an extended theory of governance," Post-Print hal-00974337, HAL.
    12. Peter Wirtz, 2008. "Les firmes entrepreneuriales en croissance ont-elles un système de gouvernance spécifique?," Working Papers CREGO 1080701, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.

    More about this item

    Keywords

    latitude managériale; théorie des échelons supérieurs; théorie de la gouvernance financière; théorie cognitive de la gouvernance; théorie comportementale de la gouvernance; managerial discretion; Upper Echelons Theory; financial governance theory; cognitive governance theory; behavioral governance theory.;

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • L19 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Other
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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