Le conseil d’administration : évolution des rôles dans les mutations du capitalisme

What is it about?

The research aims to study the Board of Directors' spot on capitalism transitions. Methodology connecting historical and critical literature review was engaged to conduct our analysis. Since the early 20th century three capitalisms have succeeded: the managerial, the shareholder and the stakeholder. Organizations theories have tried to describe these changes and mainly corporate governance models that result. This capitalism’ mutations stressed privileged actors who have influenced and governed company. Our development focuses on the Board of directors with reference to the other two key governance actors: shareholders and managers.

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Why is it important?

This analysis made it possible to discern, through the coexistence of the various models of corporate governance, the evolutionary role of the Board of Directors. Confidence and control should be two interdependent elements in defining the Board functioning. Control mechanisms combine members' intentions and actions with Firm objectives, while trust mechanisms improve the decision-making process and increase the group cohesion.