This study is about the choice of the form of interfirm linkages in the financial sector. The article examines more specifically the incidence of the degree of diversification (economic and geographic) and that of corporate governance systems on the choice between partial linkage (minority...

Using the contractual theories framework, this article examines the relationship between the managerial discretion and the activity choices of the french property-liability insurance companies. We propose an effective positioning of the different ownership structures in regard to hazard moral...

This article is about the way of combining different governance mechanisms during the decision-making process. In particular, we study the strategic growth of AXA, an insurance group, from 1987 to 1994, and how its manager used mutual-specific governance mechanisms to maintain his discretionary...