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Gouvernance, enracinement et performance des entreprises familiales européennes

Author

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  • Patrice Charlier

    (CESAG - Centre d'études des sciences appliquées à la gestion)

Abstract

The performance of the family firms can be analyzed according to their modes of governance, based on answers to the various assumptions of family entrenchment. The traditional assumption of the « illegitimate » entrenchment is tested by differentiating two modes of governance likely to reduce the negative effects of them : that of the companies controlled by a family with a external leader, and that of the companies directed by a family which no longer is the principal shareholder. The assumption of the « positive » entrenchment or « legitimates » is also tested when the company is controlled and directed by the family. The results of the tests carried out on a sample of European medium-size firms seem to confirm the assumption of a negative family entrenchment.

Suggested Citation

  • Patrice Charlier, 2008. "Gouvernance, enracinement et performance des entreprises familiales européennes," Post-Print halshs-00522463, HAL.
  • Handle: RePEc:hal:journl:halshs-00522463
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00522463
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    File URL: https://halshs.archives-ouvertes.fr/halshs-00522463/document
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    References listed on IDEAS

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    1. Mike Burkart & Fausto Panunzi & Andrei Shleifer, 2003. "Family Firms," Journal of Finance, American Finance Association, vol. 58(5), pages 2167-2202, October.
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    10. repec:hrv:faseco:30728041 is not listed on IDEAS
    11. Faccio, Mara & Lang, Larry H. P., 2002. "The ultimate ownership of Western European corporations," Journal of Financial Economics, Elsevier, vol. 65(3), pages 365-395, September.
    12. Gérard Charreaux, 1998. "Le rôle de la confiance dans le système de gouvernance des entreprises," Working Papers CREGO 0980501, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
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    15. repec:hrv:faseco:30747196 is not listed on IDEAS
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    Citations

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    Cited by:

    1. Patrice Charlier & Céline Duboys, 2011. "Gouvernance familiale et politique de distribution aux actionnaires," Revue Finance Contrôle Stratégie, revues.org, vol. 14(1), pages 5-31., March.
    2. Patrice Charlier & Jean-Baptiste Cartier, 2012. "Les particularités de la société en commandite par actions au regard des conflits d'agence," Post-Print halshs-00807573, HAL.
    3. Patrice Charlier & Céline Du Boys, 2011. "Family governance and payout policies to shareholders
      [Gouvernance familiale et politique de distribution aux actionnaires]
      ," Post-Print hal-01470330, HAL.
    4. Patrice Charlier & Céline Du Boys, 2009. "Gouvernance Familiale Et Repartition De La Valeur : Etude Des Politiques De Distribution Aux Actionnaires Des Entreprises Familiales Cotees," Post-Print halshs-00455729, HAL.

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