Professeur d’économie, Université de Paris, LADYSS
This seminar will focus on corporate governance, as the set of legal, formal and non-formal rules that shape decision-making within firms. It will investigate the relationships between the various stakeholders of the business firms: shareholders, directors, executive officers and worker representatives. Two issues will be raised. First, what is the ultimate responsibility of the firm? To best serve the interests of shareholders ? Or do firms have a broader social responsibility? Second, what are the consequences of various corporate governance arrangements on firm strategy (investment, time horizon, etc.)? The content of the seminar will be both theoretical (with an examination of the literature in institutional economics, socio-economy and corporate and labour law) and empirical (with a focus on studies using micro-data on). Teaching will be in English.
- The company and the firm
- Comparative corporate governance
- The financialization of the business firm
- Worker voice in governance
- Shareholder primacy versus Corporate social responsibility
• CCESE: 2 hours classroom examination
• APE and IES: each student will write an home essay that critically assesses an important academic paper (to be decided with me).
There is no dedicated textbook for this course. However, for each seminar, specific readings will be required.