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Corporate governance and trust:an international comparison

Odile Paulus and Fabrice Roth ()
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Fabrice Roth: Université de Strasbourg 3

Working Papers CREGO from Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations

Abstract: The referring corporate governance approach considers that the firm manager has a central position towards the other stakeholders (SH):shareholders, employees, financial creditors. These SH invest specific capital into the firm. The mechanisms protecting each SH's investment are compared within an international perspective. Trust exists when these mechanisms are incomplete. The American and German models are dominant. In Germany, the shareholders must grant an important trust to the firm manager whereas the financial creditors and the employees enjoy important protection mechanisms. In the US, the protection mechanisms play inverse roles.

Keywords: corporate governance; stakholders; trust (search for similar items in EconPapers)
JEL-codes: G30 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cfn
Date: 2001-07
Note: version française "Gouvernement d'entreprise et confiance:une comparaison internationale", publiée dans Revue d'économie financière, juillet 2001.
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Published in French, version française "Gouvernement d'entreprise et confiance:une comparaison internationale", in Revue d'économie financière, juillet 2001.

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Persistent link: http://EconPapers.repec.org/RePEc:dij:wpfarg:1010701

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