MARC Record from Library of Congress

LEADER: 02020cam a22002897a 4500
001 2005615170
003 DLC
005 20050113084604.0
007 cr |||||||||||
008 050106s2004 mau sb 000 0 eng
010 $a 2005615170
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aMurphy, Antoin E.
245 10 $aCorporate ownership in France$h[electronic resource] :$bthe importance of history /$cAntoin E. Murphy.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2004.
490 1 $aNBER working paper series ;$vworking paper 10716
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 1/6/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"This paper attempts to show the importance of history in influencing the structure of corporate ownership in France. The strong concentration of family ownership in France is traced to historical weaknesses in the money and capital markets that forced families to have recourse to self-financing. The weaknesses in the money and capital markets were greatly influenced by two eighteenth century financial traumas arising from John Law's Mississippi System (1716-20) and the financing of the French Revolution through the issue of the assignats in the 1790s.These financial traumas delayed significantly the emergence of banks and the capital market. Further historical factors influencing French corporate ownership were the changes in the inheritance law system at the start of the nineteenth century and, more recently, the emphasis on a pay-as-you-go pension system"--National Bureau of Economic Research web site.
650 0 $aCorporate governance$zFrance$xHistory.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 10716.
856 40 $uhttp://papers.nber.org/papers/W10716