Can CEO-directors ties enhance firm performance ?

La proximité entre dirigeant et administrateurs peut-elle favoriser la performance de l’entreprise ?

Cédric van Appelghem (), Véronique Blum () and Pascal Nguyen
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Cédric van Appelghem: UGA [2016-2019] - Université Grenoble Alpes [2016-2019]
Véronique Blum: UGA [2016-2019] - Université Grenoble Alpes [2016-2019], CERAG - Centre d'études et de recherches appliquées à la gestion - UGA [2016-2019] - Université Grenoble Alpes [2016-2019]

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Abstract: A particular characteristic of corporate governance in France is managers' educational background; they typically issue from elitist institutions. This paper examines how this specificity may affect firm performance. The analysis of constituents of the SBF 120 from 2007 to 2011 reveals the existence of an academic social capital, distinct from professional social capital, whose effect on firm performance is positive, particularly in presence of strong growth opportunities. These results support the concepts developed in sociology of knowledge and Godelier's anthropology, but contradict the predictions based on agency theory.

Date: 2017-12-30
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Published in Finance Contrôle Stratégie, 2017, 20 (4), ⟨10.4000/fcs.2013⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01763200

DOI: 10.4000/fcs.2013

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