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Le rôle «d’entrepreneur institutionnel» des capitalinvestisseurs auprès des entreprises:des influences coercitives et cognitives liées à l’importance relative des ressources

Author

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  • Anne Stévenot

    (CEREFIGE – Nancy Université)

  • Loris Guéry

    (CEREFIGE – Nancy Université)

Abstract

(VF)De nombreux travaux ont constaté une influence des capital-investisseurs (CIs) sur les entreprises qu’ils financent dans le cadre d’une gouvernance spécifique. La théorie néo-institutionnelle sociologique apporte un éclairage original et pertinent sur le rôle «d’entrepreneur institutionnel» joué par les CIs. Mobilisant ce cadre d’analyse, cette recherche identifie les dimensions et les modalités d’influence des CIs et met en évidence un lien avec la place du CI au capital qui détermine l’émergence de logiques plutôt normatives que coercitives. Ces résultats sont obtenus à partir de l’enquête REPONSE 2004-2005 portant sur près de trois mille établissements français.(VA)Many studies have identified an active influence of venture capitalists (VCs) on the companies they fund through special governance practices. The theory of new institutionalism brings in an original and relevant perspective on the role of "institutional entrepreneur" played by VCs. Building on this analytical framework, our research identifies the range and modes of VC influence. It highlights a link with the VC's capital share in the firm that determines the emergence of a normative logic rather than a coercive one. These results are obtained from a quantitative study based on the 2004- 2005 REPONSE survey of nearly three thousand French firms.

Suggested Citation

  • Anne Stévenot & Loris Guéry, 2010. "Le rôle «d’entrepreneur institutionnel» des capitalinvestisseurs auprès des entreprises:des influences coercitives et cognitives liées à l’importance relative des ressources," Revue Finance Contrôle Stratégie, revues.org, vol. 13(2), pages 107-144., June.
    • Handle: RePEc:dij:revfcs:v:13:y:2010:i:q2:p:107-144.
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    More about this item

    Keywords

    entrepreneur institutionnel; capital-investissement; gouvernance; néo-institutionnalisme; institutional entrepreneur; venture capital; governance; new institutionalism.;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm

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