Unsatisfied with the dominating shareholders'view, that we find unfitted to build a relevant theory of corporate governance, we propose an enlarged definition of the value which may be called, the stakeholder value. This definition and the associated measure are supposed to be more fitted to the...

(VF)Cette étude s’intéresse aux déterminants de la rémunération des administrateurs externes des sociétés du SBF 120. Nos résultats mettent en évidence l’incidence de la structure de propriété de l’entreprise sur cette rémunération. La rémunération est en effet d’autant...

(VF)Cette étude s’intéresse à l’incidence des mécanismes de gouvernance sur le niveau de rémunération des dirigeants. À partir d’un échantillon de 132 entreprises françaises cotées, nous examinons l’impact des caractéristiques du conseil d’administration, de l’existence...

(VF)À partir d'un échantillon de 56 changements de dirigeant au sein d'entreprises françaises cotées entre 2000 et 2005, la nature et les facteurs explicatifs des choix comptables effectués par le dirigeant sortant sont analysés. L'étude des accruals discrétionnaires montre que les...

The current economic crisis of Japan may be attributed largely to the dysfunction of the corporate goverance system. The post-war break-up of Zaibatsu family trusts resulted in management control. The President has shielded himself from the discipline of the capital market through...

Do firms that have voluntary gone private have different characteristics from firms which have not gone private ? Using financial ratios and data concerning ownership structure, managerial discretion and composition of the board of directors, statistical analysis have been performed to explain...

This study is about the choice of the form of interfirm linkages in the financial sector. The article examines more specifically the incidence of the degree of diversification (economic and geographic) and that of corporate governance systems on the choice between partial linkage (minority...

The CEO, as an agent, tries to be better entrenched, in order to reduce the risk of being dismissed. Our entrenchment model develops the importance for the CEO to get access to networks and to attain a higher performance. From a sample of 1 747 annual observations concerning 258 CEOs of public...

What kind of modifications does bankruptcy induce on corporate governance in the French context? This issue is addressed using a conceptual framework that links together the bankruptcy process, institutional factors and the firm stakeholders' behaviour. The hypotheses built with the help of the...

(VF)Résumé : Cette étude analyse la relation présumée entre certaines caractéristiques d’entreprises de la nouvelle économie et de leur PDG et la proba-bilité de leur remplacement lors d’une chute de performance. Sur un échantillon de 100 entreprises du NASDAQ ayant subi une chute...