More autonomous? The evolution of corporate governance structure of French listed firms (1997-2008)
The choice of governance structure is likely to have a major impact on the effectiveness of corporate governance. This article aims to analyze the variables that influence the choice of a given corporate governance structure: Board of directors with CEO, Board of directors with separate functions or Management Board and Supervisory Board. Based on our quantitative study of French listed companies, results show that the probability of adoption of an autonomous structure is related to the degree of CEO entrenchment, the concentration of capital, the identity of shareholders, the composition of the Board and the performance context.