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What future for codetermination and corporate governance in Germany?

Boyer, Robert - HAL - 2005

Contrary to the prognosis derived from the variety of capitalism literature, since the mid-90s the significant restructuring of large German corporations in the direction of shareholder value seems to have been compatible with the persistence of a genuine configuration of industrial relations,...

Persistent link: https://www.econbiz.de/10010739104

In search of an alternative to shareholder value maximization

Giraud, Gaël; Renouard, Cécile - HAL - 2011

This paper argues that mainstream economic theory, far from providing an indisputable plea in favor of shareholder value-maximization, offers striking arguments showing quite the opposite : profit-maximization cannot be a legitimate goal for private firms. This opens the door for a widening of a...

Persistent link: https://www.econbiz.de/10011025817

In search of an alternative to shareholder value maximization

Giraud, Gaël; Renouard, Cécile - HAL - 2011

This paper argues that mainstream economic the- ory, far from providing an indisputable plea in favor of shareholder value-maximization, o ers striking arguments showing quite the opposite: pro t maximization cannot be a legitimate prioritar- ian goal for private rms. This opens the door for a...

Persistent link: https://www.econbiz.de/10009207103

Ownership Structure and Debt Leverage: Empirical Test of a Trade-Off Hypothesis on French Firms

Bruslerie, Hubert De La; Latrous, Imen - HAL - 2012

Debt may help to manage type II corporate agency conflicts because it is easier for controlling shareholders to modify … period 1998-2009 is empirically tested. It supports an inverted U-shape relationship between shareholders' ownership and … leverage. At low levels of ownership, controlling shareholders use more debt in order to inflate their stake in capital and to …

Persistent link: https://www.econbiz.de/10010820683

Women and Corporate Governance : Towards a New Model!

Beaufort, Viviane De; Summers, Lucy - HAL - 2013

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...

Persistent link: https://www.econbiz.de/10010820799

A mission-centric view of the firm: Lessons from Social Entrepreneurship

Levillain, Kevin; Segrestin, Blanche - HAL - 2012

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...

Persistent link: https://www.econbiz.de/10010821084

Una contribución a la evaluación de las reformas al Gobierno Corporativo de las empresas: aplicación a la Argentina

Chisari, Omar; Ferro, Gustavo - HAL - 2012

practices at the level of shareholders (or even stakeholders) from social welfare enhancing practices. Therefore, this is a …

Persistent link: https://www.econbiz.de/10010821129

What do we know about delistings? A survey of the literature

Djama, Constant; Martinez, Isabelle; Serve, Stéphanie - HAL - 2012

exchange requirements, poor performance) and what strategies did the managers implement to attempt to avoid delisting? Finally …

Persistent link: https://www.econbiz.de/10010736419

Taxes on severance pay, corporate governance and golden handshakes

Llense, Fabienne - HAL - 2009

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...

Persistent link: https://www.econbiz.de/10010738557

Ownership concentration and firm performance: Evidence from an emerging market

Grosfeld, Irena - HAL - 2006

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...

Persistent link: https://www.econbiz.de/10010738833