Employee Ownership And Corporate Governance: Evidence From The French Market

Abstract

<p>This paper's objective is to study the issue of employee ownership in the context of corporate governance. We show first that the literature is controversial on the role that employees-shareholders may play in the corporate governance system and consequently in value creation. In a second step, we empirically analyse the performance of a sample of companies from the index SBF 250. Our results show a negative relationship between the presence of employee shareholders in the control bodies (board of director or board of trustees) and financial performance indicators.</p>