The initial view of the advantages of ownership concentration in joint stock companies was determined by the concern about the opportunistic managerial behavior. The growing importance of knowledge and human capital in the operation of firms shifts the focus of concern: excessive ownership...

This paper explores the relationship between ownership structure and firm value in a transition economy. It distinguishes firms belonging to the sector of innovative technologies and firms from more "traditional" industries. For the latter, the results of the estimation of a simultaneous...

Debt may help to manage type II corporate agency conflicts because it is easier for controlling shareholders to modify the leverage ratio than to modify their share of capital. A sample of 112 firms listed on the French stock market over the period 1998-2009 is empirically tested. It supports an...

The feminization of Boards has the potential to be a vector of change, bringing "added value" to organisations through gender diversity, thus creating greater efficiency. Promoting women to positions of power only makes sense, however, if these women are allowed to bring, in terms of skills and...

Social Entrepreneurship causes increasing debate in the literature and represents a growing enigma for theories of the firm. Beyond the divergences in its definitions, we show that its mission to create "social value" is an identifiable common feature that cannot be satisfactorily described...

In this work we do two things: 1) an assessment of the current academic opinions and of the present situa-tion around the world, 2) a reconsideration of the quantitative evaluaton of corporate governance reforms from the perspective of general equilibrium. Corporate governance could be defined...

This paper puts forward an explanation of the rapid increase in golden handshake provision in Europe over the last ten years, based on both enhanced investor protection and attractive tax codes for severance pay. This article takes up a framework in which asymmetric information about the quality...