RESEARCH TOPICS
The impact of the shareholding structure
on firm development is a topic that has been studied for decades. The central
question concerned whether the system of widely dispersed ownership (known as
the «Anglo-American model») produced results that were superior to those
obtained in the system of more concentrated ownership (known as the Rhineland
model). Well publicized collapses of American companies in recent years have
highlighted the weaknesses of the Anglo-American model, and have caused the
research focus to shift. Today the focus is more on trying to understand the
link between ownership structure and the strategic development of firms.
Our research concentrates on three areas:
 The role and effects of shareholder meetings in listed companies.
Here we try to understand how shareholders can influence strategy, whether
they have the means to do so, and if so, how they succeed. Our first results
were published in 2006. Our studies in this area are continuing with detailed
research into the functions and effects of shareholder meetings in France.
The role of employee shareholding in companies.
Does employee
ownership affect firm strategy in the short term, or in the long term? Does
employee participation in governance institutions, such as the board of
directors, have a positive or negative effect on strategy? Because employee
shareholding is a widespread phenomenon in France, we possess a considerable
database dealing with facts related to these questions. Initial results were published
in 2006, and research into this area is continuing (see publications).
Family firms.
What are the characteristics of owner-controlled
firms in terms of entrepreneurial latitude? Is the room for manoeuvre greater
because control of the company is in the hands of one family, or is it
constricted because ownership is more concentrated? Does widening ownership
have an effect on firm strategy? What is that effect? At the present time
we are building a database around 300 small (and medium sized/ family firms?)
in France. We are also undertaking specific research on firms involved in
leveraged buyouts.
If you would like to contribute to this
research stream, contact
 Xavier Hollandts
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subscribe to our newsletter.
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ENDORSEMENT
«I like very
much the work done on the governance of SMEs at IFGE. It is priceless to
benefit from professional researches in that field.»
Caroline Weber, CEO of Middlenext
 The IFGE database:
our database
identifies and clarifies the ownership structure of firms on the SBF 250. It
identifies owners by name and by share of ownership over the past ten years.
It also describes the evolution of ownership. It ranks firms according to
ownership structure. With regard to unlisted firms, an additional database
describes the ownership structure of 200 small and medium companies, its
evolution over a period of ten years. The database also looks at the family
and financial dimension of this ownership.
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