 Employee Participation in Corporate Governance: What Impact on the Performance and Cash Distribution Policy in the SBF 120 (2000-2014)?Cécile Cézanne and Xavier Hollandts Economie et Statistique / Economics and Statistics, 2021, issue 528-529, 85-107 Abstract: [eng] This article analyzes the impact of employee share ownership and representation in governance structures on the performance and the payout policy of French listed companies. This empirical work is based on data from a combination of three sources (IODS, Eikon and Thomson Reuters) for a sample of French listed companies listed over the period 2000-2014. Our results show that employee participation in corporate governance has different impacts. Employee share ownership helps to increase corporate profitability but also to limit dividend payments and share buyback practices. At the same time, employee participation in the Board of Directors (or Supervisory Board) moderates dividend payments to shareholders. These results provide new insights regarding the renewal of corporate governance and the evolution of payout policy. JEL-codes: G32 G35 J54 L25 (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:nse:ecosta:ecostat_2021_528d_6 DOI: 10.24187/ecostat.2021.528d.2061 Access Statistics for this article Economie et Statistique / Economics and Statistics is currently edited by Dominique Goux More articles in Economie et Statistique / Economics and Statistics from Institut National de la Statistique et des Etudes Economiques (INSEE) Contact information at EDIRC. |
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