Old-Fashioned Yet Innovative: Corporate Law, Corporate Governance and Sustainability in France
In Beate Sjåfjell and Christopher M. Bruner (eds), Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability (Cambridge University Press, 2019), Chapter 20.
Posted: 8 May 2019 Last revised: 15 Jun 2020
Date Written: May 6, 2019
Caught between the traditional classifications of ‘insider’ and ‘outsider’ orientation, or ‘liberal’ and ‘coordinated’ corporate governance models, the French approach borrows from both without being firmly attached to either. The French system of corporate governance offers a hybrid model, combining the long-standing maintenance of some entrenched features of French capitalism (employee representation on the board, notably), with an innovative approach to sustainable governance. This chapter examines the corporate law and corporate governance structures of large French companies, including new compliance and due diligence programmes imposed upon companies and their suppliers.
Keywords: board, employee representation, due diligence, compliance programmes, 'raison d’être'
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