What Corporate Governance? Reflections on 1999 Tse's Report (Quelle Gouvernance D'Entreprise? Reflexions a Partir Du Rapport 1999 De Tse)

This paper discusses the TSE's corporate governance recommendations and current practices. It points out that an analysis of corporate governance at the level of an institution such as the TSE must start with an understanding of the nature and the limits of recommendations or regulation advocated by this institution. The problem stems from the impediments to information flows to stakeholders, e.g. shareholders, debtholders, workers and trading partners.The author then discusses current practices as described by the 1999 report from the TSE's Corporate Governance Committee and compares them with recent research findings. Finally, the author advocates corporate governance recommendations which are not restricted to directory boards