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On Inventing the Purpose-Driven Enterprise

Author

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  • Kevin Levillain

    (CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique)

  • Blanche Segrestin

    (CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique)

Abstract

In this article we present the main lineaments for a reform of the business corporation introducing the purpose of the firm. In France, a report commissioned by the government recommends that two new concepts should be introduced in law: the raison d'être of the firm and "purpose-driven enterprises." This reform partly originated in a research program carried out in France after 2009. The legal articulation of a so-called "purpose-driven enterprise" has now taken off, first in the US and now in France and elsewhere. It paves the way to introducing sustainability issues and new valuations processes in corporate governance.

Suggested Citation

  • Kevin Levillain & Blanche Segrestin, 2019. "On Inventing the Purpose-Driven Enterprise," Post-Print hal-02011872, HAL.
    • Handle: RePEc:hal:journl:hal-02011872
    DOI: 10.3384/VS.2001-5992.196187
    Note: View the original document on HAL open archive server: https://minesparis-psl.hal.science/hal-02011872v1
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    References listed on IDEAS

    as
    1. William Lazonick, 2007. "The US stock market and the governance of innovative enterprise ," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 16(6), pages 983-1035, December.
    2. Blanche Segrestin & Armand Hatchuel, 2012. "Refonder l'entreprise," Post-Print hal-00684515, HAL.
    3. Kevin Levillain, 2017. "Les entreprises à mission Un modèle de gouvernance pour l'innovation," Post-Print hal-01614364, HAL.
    4. Susan Mac Cormac & Heather Haney, 2012. "New Corporate Forms: One Viable Solution to Advancing Environmental Sustainability," Journal of Applied Corporate Finance, Morgan Stanley, vol. 24(2), pages 49-56, June.
    Full references (including those not matched with items on IDEAS)

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