This paper surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems in Europe. One share-one vote encourages the selection of an efficient management team. Families are the...

Mutual funds industry has been sought by French politicians as mediation between the popular savings and company’s investments through the financial markets. Questioning the link between finance and industry requires analyzing the effectiveness of this mediation. This article intends firstly...

We investigate the link between employee ownership and price levels of stocks. Using a comprehensive sample of firms in the Société des Bourses Françaises (SBF) 120 Index from 2000 to 2007, we document a negative correlation between share price levels and employee ownership. This suggests...

In the theoretical framework of corporate governance this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to determine the necessary conditions of the...

Controlled firms are in a framework where private benefits create a buffer between public earnings and economic profitability. We focus on debt leverage in the type II agency conflict between the controlling shareholder and outside investors. We use a simple discrete model comparing the capital...

The study reported here focused on determining what methods financial analysts use for the valuation of Initial Public Offerings. The conclusion is that practices have moved with the times and that “real” considerations are more and more often used to obtain the market value of the firm. The...

"Bringing health through food to as many people as possible" - this is the strategic mission of the French Danone group who has become a leading actor in the food-processing industry: Danone is the world's number 1 for fresh dairy products, number 2 for infant nutrition and bottled waters, and...