La diffusion de la valeur actionnariale en France: une lecture néo-institutionnaliste

Ingmar Gehrke and Philippe Zarlowski

ACCRA, 2003, vol. 9, issue 3, 189-205

Abstract: The article presents a new institutionalist approach to the analysis of the diffusion of shareholder value in France over the 1995-2000 period. Two studies are performed for the same sample of companies. In the first study, the evolution of the financial communication of companies in their annual reports is analysed. A second study consists in a questionnaire survey on in-company uses of shareholder value information. A decoupling typical of institutionalisation processes is evidenced. Shareholder value diffusion is then related to the institutional change in the French corporate environment. The relative contribution of institutionalist and economic interpretations of this diffusion process is then discussed.

Keywords: shareholder value; new institutionalism; financial communication; decoupling; French firms (search for similar items in EconPapers)
Date: 2003
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