We study how firm characteristics evolve from early business plan to initial public offering to public company for 49 venture capital financed companies. The average time elapsed is almost 6 years. We describe the financial performance, business idea, point(s) of differentiation, non-human...

Data for a sample of 558 CEOs over 1985-1990 suggest substantial compensation premia for managers of diversified firms. The CEO of a firm with two distinct lines of business averages 10 to 12 percent more in salary and bonus and 13 to 17 percent more in total compensation than the CEO of a...

The changing nature of the corporation forces us to re-examine much of what we take for granted in corporate governance. What precisely is the entity that is being governed? How does the governance system obtain power over it, and what determines the division of power between various...

This paper describes and considers explanations for changes in corporate governance and merger activity in the United States since 1980. Corporate governance in the 1980s was dominated by intense merger activity distinguished by the prevalence of leveraged buyouts (LBOs) and hostility. After a...

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...

Most research on strategic alliances ignores the underlying contracts that govern the terms of the relationship. This is problematic since it is how these contracts are structured that determines how firms will benefit from a relationship. We present a novel method to analyze contractual...

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.