Les investisseurs institutionnels influencent-ils les stratégies ?

Denis Lacoste, Stéphanie Lavigne and Éric Rigamonti

Revue française de gestion, 2009, vol. n° 197, issue 7, 35-48

Abstract: This article tests the influence of institutional investors on corporate diversification strategies of large French companies. After analysing theories and previous research on this issue, we present an empirical study conducted on the companies belonging to CAC 40. Our research shows that the presence of these investors cannot explain the level of diversification of companies and especially related diversification strategies. If institutional investors impose a behavioural Framework on corporations, they do not intervene in strategic décisions.

Date: 2009
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