The transformation of corporate governance in France and Germany: The role of workplace institutions

Michel Goyer

No 02/10, MPIfG Working Paper from Max Planck Institute for the Study of Societies

Abstract: This paper examines the process of refocusing on core competencies by large French and German firms. I compare two theories of comparative corporate governance on the question of refocusing: functional convergence and national institutionalist perspective. The empirical evidence presented in this paper points to two nationally specific patterns of change that do not meet fully the prediction of either perspective. Large French and German companies have changed but in different ways without experiencing any process of convergence. The differences in the process of refocusing in France and Germany are measured on three dimensions: speed of dismantling of conglomerates, adoption of financial transparency, and recourse to redundancies. I argue that the institutional arrangements of workplace organization constitute the critical variable accounting for the differences in the pattern of change in the two countries. In particular, the institutional arrangements of the organization of the shop floor provide management with constraints and opportunities to conduct the business strategy of the firm.

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:mpifgw:0210

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