The paper is divided in two coordinate parts. The first considers in general the issue of stockholders vs. stakeholders oriented governance systems and their relative merits and demerits. The second part deals specifically with the issue of the principal-agent problem in a stakeholder context.

The publications about the transition of French corporate governance are controversial fluctuating between proposing the integration of socioeconomic qualities, to the fragmentation of different and persistent systems by the interdependence of their attributes, or the predominance of the...

À l’origine de cette thèse se trouve la question suivante : « Qu’est-ce qui rend possible et justifie que les licenciements économiques soient de plus en plus nombreux dans les entreprises en bonne santé ? » Autrement dit : « en quoi les décisions de licenciement sont-elles des...

The academic literature is inconsistent about the evolvement of the German industrial relations network and varies between theories which emphasize its versatility or forecast its probable deterioration. I suggest that a less centralized version of industrial democracy, with works councilors...

Social partnership and collective organization are dissimilar as regards the explanation of the development of the capitalist system, on the one hand emphasizing cooperation between management and labour and on the other the contrary. I indicate that the two propositions are not real...

This paper investigates the growth effects of financial integration and financial deepening in selected SSA economies, using a panel dataset of 10 SSA countries from 1970-2012. We use ratio of net FDI inflow to GDP (proxy for financial integration), ratio of gross capital formation to GDP (proxy...

We study how banking competition may affect the stability of banking systems. We develop our study by expanding the failure-determinant methodology to include panel-data techniques and by controlling the effects of financial structure and development. We use indicators for 47 countries between...

Efficient use of resources depends on better allocation through financial systems. Development of financial systems can be measured through the performance of banks, financial markets and insurance companies. This paper identifies several key attributes to measure the level of financial...

Traditionally an old concern among economists has referred to the effects that specific financial systems may have on economic performance. Here we investigate the “stylised facts” among financial systems and banking crises by using individual and principal-components indicators and sets of...

US economist Hyman Minsky jokingly used to claim that there are as many varieties of capitalism as Heinz has pickles, that is 57 varieties (Minsky 1991). In this paper we argue that economic integration provides a similar analytical problem: economic integration can take many forms, and some are...