On Inventing the Purpose-Driven Enterprise

Kevin Levillain () and Blanche Segrestin ()
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Kevin Levillain: CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique
Blanche Segrestin: CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique

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Abstract: In this article we present the main lineaments for a reform of the business corporation introducing the purpose of the firm. In France, a report commissioned by the government recommends that two new concepts should be introduced in law: the raison d'être of the firm and "purpose-driven enterprises." This reform partly originated in a research program carried out in France after 2009. The legal articulation of a so-called "purpose-driven enterprise" has now taken off, first in the US and now in France and elsewhere. It paves the way to introducing sustainability issues and new valuations processes in corporate governance.

Keywords: Profit-with-purpose corporations; Mission; Corporate law; Corporate governance (search for similar items in EconPapers)
Date: 2019
Note: View the original document on HAL open archive server: https://minesparis-psl.hal.science/hal-02011872v1
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Published in Valuation Studies, 2019, 6, pp.87 - 93. ⟨10.3384/VS.2001-5992.196187⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02011872

DOI: 10.3384/VS.2001-5992.196187

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