Research Handbook on Boards of Directors
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Research Handbook on Boards of Directors

Edited by Jonas Gabrielsson, Wafa Khlif and Sibel Yamak

Boards of directors are complex systems, and it is imperative to understand what the contextual forces are that shape the direction and make-up of boards. This Research Handbook provides inspiration for researchers and practitioners interested in the manifold dimensions and facets of context surrounding boards of directors.
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Chapter 16: Institutions, governance, and strategy in a changing global landscape: the case of boards of directors in large listed firms in France

Nikolaos Kavadis and Xavier Castañer

Abstract

In this chapter we present the evolution of the French institutional context within a changing global landscape, and reflect on its effects on the governance of domestic-based corporations, in particular as regards the composition and roles of the board of directors. Then, we discuss whether this changing context, including in terms of board governance, had an impact on the strategic direction of firms. The French context is particularly interesting for the study of the globalization of finance and the evolution of corporate governance. Scholars have described it as a context moving toward hybridization: neither fully aligning with the seemingly expanding liberal market system of political economy and governance nor fully persisting with its traditional political economic and governance features. We present some evidence to better understand this new emerging model and, more broadly, institutional change in corporate board governance and strategy in the context of globalization.

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