Towards a convergence of the Shareholder and stakeholder models

Jean-Pierre Ponssard, Dominique Plihon and Philippe Zarlowski ()
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Dominique Plihon: CEPN - Centre d'Economie de l'Université Paris Nord (ancienne affiliation) - UP13 - Université Paris 13 - CNRS - Centre National de la Recherche Scientifique
Philippe Zarlowski: ESSEC Business School

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Abstract: A new hybrid model of corporate governance seems to be emerging as a mixture of the shareholder and the stakeholder models. Its two main characteristics consist in an increased control of corporate executives by strong minority shareholders: this strengthened financial control is balanced by the rise of the social and environmental responsibilities of firms. This paper elaborates on this hypothesis and reviews the forces at work in this emerging process.

Date: 2005
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Published in Corporate Ownership and Control , 2005, 2 (3), pp.11-18

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00365723

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