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Renverser la financiarisation des entreprises

Author

Listed:
  • Tristan Auvray

    (Centre d'Economie de l'Université de Paris Nord (CEPN))

  • Thomas Dallery

    (Centre Lillois d'Etudes et de Recherches Sociologiques et Economiques (CLERSE))

  • Sandra Rigot

    (Centre d'Economie de l'Université de Paris Nord (CEPN))

Abstract

La financiarisation des entreprises correspond au transfert, vers l’emploi et l’investissement, du risque financier que devraient supporter les actionnaires. Elle repose sur deux piliers : la gouvernance des firmes, qui accorde un poids prépondérant aux décisions actionnariales, et l’organisation de la liquidité sur les marchés financiers, qui permet une mobilité accrue des capitaux. Ce système pousse les entreprises à faire des choix d’allocation du capital de court terme qui alimentent les rentes de la finance. Plusieurs pistes existent pour que les pouvoirs publics, à un niveau national ou européen, mettent un frein à cette dynamique délétère pour l’investissement et l’emploi.

Suggested Citation

  • Tristan Auvray & Thomas Dallery & Sandra Rigot, 2016. "Renverser la financiarisation des entreprises," CEPN Policy Brief, Centre d'Economie de l'Université de Paris Nord, vol. 9, pages 1-4.
  • Handle: RePEc:upn:policy:2016-09
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    More about this item

    Keywords

    Financiarisation; entreprises;

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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