Évolution institutionnelle, schémas mentaux et gouvernement des entreprises : le cas Krupp - Thyssen
A system of corporate governance consists of the set of mechanisms which constrain managerial discretion. A rapid comparison of the institutional contexts of different countries indicates that corporate governance depends on the national environment of the firm. At the same time, national governance systems are not static, but change in time. The aim of this article is to propose a conceptual framework for an explanation of the modifications of the constraints imposed on managerial dis cretion. The clinical study of the Thyssen- Krupp merger in Germany is an example of the plausibility of our theoretical hypotheses.
|Date of creation:||1999|
|Publication status:||Published in Finance Contrôle Stratégie, Association FCS, 1999, 2 (1), pp.117|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00748139|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Moerland, Pieter W., 1995. "Alternative disciplinary mechanisms in different corporate systems," Journal of Economic Behavior & Organization, Elsevier, vol. 26(1), pages 17-34, January.
- Williamson, Oliver E, 1988. " Corporate Finance and Corporate Governance," Journal of Finance, American Finance Association, vol. 43(3), pages 567-591, July.
- 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.
- Erik Berglöf, 1997. "Reforming corporate governance: redirecting the European agenda," Economic Policy, CEPR;CES;MSH, vol. 12(24), pages 91-123, 04.
- La Porta, Rafael & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997.
" Legal Determinants of External Finance,"
Journal of Finance,
American Finance Association, vol. 52(3), pages 1131-1150, July.
- Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, "undated". "Legal Determinants of External Finance," Working Paper 19443, Harvard University OpenScholar.
- Rafael LaPorta & Florencio Lopez de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," Harvard Institute of Economic Research Working Papers 1788, Harvard - Institute of Economic Research.
- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," NBER Working Papers 5879, National Bureau of Economic Research, Inc.
- RAFAEL LaPORTA & FLORENCIO LOPEZ-de-SILANES & ANDREI SHLEIFER & ROBERT W. VISHNY, "undated". "Legal Determinants of External Finance,"," CRSP working papers 324, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
- Denzau, Arthur T & North, Douglass C, 1994. "Shared Mental Models: Ideologies and Institutions," Kyklos, Wiley Blackwell, vol. 47(1), pages 3-31.
- Arthur T. Denzau & Douglass C. North, 1993. "Shared Mental Models: Ideologies and Institutions," Economic History 9309003, EconWPA.
- Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
- Julian Franks & Colin Mayer, 1997. "Corporate Ownership And Control In The U.K., Germany, And France," Journal of Applied Corporate Finance, Morgan Stanley, vol. 9(4), pages 30-45.
- Gérard Charreaux, 1996. "Vers une théorie du gouvernement des entreprises," Working Papers CREGO 0960501, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
- Ravid, S. A. & Sudit, E. F., 1994. "Power seeking managers, profitable dividends and financing decisions," Journal of Economic Behavior & Organization, Elsevier, vol. 25(2), pages 241-255, October.
- Castanias, Richard P. & Helfat, Constance E., 1992. "Managerial and windfall rents in the market for corporate control," Journal of Economic Behavior & Organization, Elsevier, vol. 18(2), pages 153-184, July.
- Douglass C. North, 1993. "Five Propositions about Institutional Change," Economic History 9309001, EconWPA. Full references (including those not matched with items on IDEAS)