France's Got Talent: The Woeful Consequences of French Elitism by Peter Gumbel

Author:Peter Gumbel [Gumbel, Peter]
Language: eng
Format: epub
Tags: Read, Non-Fiction
Amazon: B00CMMF0S6
Goodreads: 18338091
Published: 2013-05-02T04:00:00+00:00

First, the world of business. Knowing that relations between employers and employees are sometimes difficult, it’s worth asking how competent CEOs who come from grandes écoles actually are. If they went to the same school as other members of the board, and are members of the same state corps, for example, will the company perform better or worse than others firms that have more independent governance? Will the directors of these companies be paid better? And what happens if the company stumbles?

Two recent scientific studies in the field of corporate governance provide answers to these questions. France is a particularly good place to study the impact of close ties between directors, because of the very narrow nature of the elite and the specificity of the corps system. The two studies were conducted independently and use slightly different data sets, but they both come to the same overwhelming conclusion: The clannish nature of French boardrooms is demonstrably bad for the companies concerned.

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