-executive directors. Board restructuring is correlated to poor performance, but not for France. Neither existing blockholders nor … creditors play an active role in disciplining. Block purchases have a monitoring role in Belgium and Germany, but not in France …

organized in France, Germany, the UK, and the US show that that the PLLC became the form of choice for small- and medium … 1892. Great Britain, a common-law country followed in 1907, and France, a code country, in 1925. The laggard was the US, a …