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10 - France

The permanent reform of corporate governance

from B - Europe

Published online by Cambridge University Press:  05 July 2013

By
Pierre-Henri Conac
Edited by
Andreas M. Fleckner  and
Klaus J. Hopt
Andreas M. Fleckner
Affiliation:
Max-Planck-Institut für ausländisches und internationales Privatrecht, Germany
Klaus J. Hopt
Affiliation:
Max-Planck-Institut für ausländisches und internationales Privatrecht, Germany
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Summary

General information on corporate governance

There is no specific law on corporate governance in France and no definition. However, it is clear that the requirements of social interest implies that the notion of corporate governance has to be appreciated in relation to the interests of stakeholders and not only shareholders. According to case law and to the corporate governance code, the social interest of the corporation includes the interest of the company, the shareholders, the employees, the clients, and third parties.

The legal regime applicable in France results from a combination of company law, corporate governance codes, actions by the securities regulator, and case law.

Legislation

Corporate governance in France has undergone many legislative and non-legislative changes since 1995. The pace was particularly strong between 1999 and 2005, but has been significantly reduced since 2005. However, an area that has been subject to permanent and major legislative involvement since 2005 is executive compensation. In addition, issues of corporate social responsibility, such as environmental issues, have increased in importance since 2009.

Type
Chapter
Information
Comparative Corporate Governance
A Functional and International Analysis
 , pp. 444 - 503
Publisher: Cambridge University Press
Print publication year: 2013

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References

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  • France
  • Edited by Andreas M. Fleckner, Max-Planck-Institut für ausländisches und internationales Privatrecht, Germany, Klaus J. Hopt, Max-Planck-Institut für ausländisches und internationales Privatrecht, Germany
  • Book: Comparative Corporate Governance
  • Online publication: 05 July 2013
  • Chapter DOI: https://doi.org/10.1017/CBO9781139177375.015
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Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • France
  • Edited by Andreas M. Fleckner, Max-Planck-Institut für ausländisches und internationales Privatrecht, Germany, Klaus J. Hopt, Max-Planck-Institut für ausländisches und internationales Privatrecht, Germany
  • Book: Comparative Corporate Governance
  • Online publication: 05 July 2013
  • Chapter DOI: https://doi.org/10.1017/CBO9781139177375.015
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • France
  • Edited by Andreas M. Fleckner, Max-Planck-Institut für ausländisches und internationales Privatrecht, Germany, Klaus J. Hopt, Max-Planck-Institut für ausländisches und internationales Privatrecht, Germany
  • Book: Comparative Corporate Governance
  • Online publication: 05 July 2013
  • Chapter DOI: https://doi.org/10.1017/CBO9781139177375.015
Available formats
×