A system of corporate governance consists of the set of mechanisms which constrain managerial discretion. A rapid comparison of the institutional contexts of different countries indicates that corporate governance depends on the national environment of the firm. At the same time, national...

Since the middle of the nineteen-eighties, the French system of corporate governance has undergone some major transformations. Originally, it was dominated by the State’s important weight in the structures constraining managerial discretion in some of France’s largest firms. But, the public...

This paper examines the proposition that financial policy and corporate governance are linked and change as a part of a dynamic process.