Business Elites And Corporate Governance in France And the Uk

by Maclean, Mairi; Harvey, Charles; Press, Jon

• ISBN13: 9781403935793
• ISBN10: 1403935793
• Format: Hardcover
• Copyright: 2006-03-17
• Publisher: Palgrave Macmillan

Summary

Business Elites and Corporate Governance in France and the UK is a cross-national study of business elites and corporate governance in France and the UK. It examines corporate governance from a comparative standpoint and looks beneath the surface at the exercise of power and authority in two distinct national business systems. It explores key issues concerning business elites, their networks, recruitment and reproduction. It aims to shed light on the mechanisms that govern the stability and regeneration of business elites against the backdrop of an increasingly global economy.

Author Biography

Mairi Maclean is Professor of European Business at Bristol Business School. Charles Harvey is Dean and Professor of Business History and Management at Strathclyde Business School. Jon Press is Visiting Professor of Business History at the Bristol Business School, and a Lead Consultant with Strategic Information Technology Systems Ltd.

Table of Contents

List of Tables and Figures	vii
Acknowledgements	x
List of Abbreviations	xi
Foreword by Sir Adrian Cadbury	xiv
1 Business Elites and Corporate Governance	1	(22)
Conceptual framework	3	(2)
Research foundations	5	(5)
Corporate governance in comparative perspective	10	(4)
Corporate governance, accountability and society	14	(6)
The book in brief	20	(2)
Conclusion	22	(1)
2 Theoretical Perspectives on Business Elites and Corporate Governance	23	(27)
Bourdieu, social stratification and business elites	24	(8)
Business elites in the field of power	32	(3)
The formation of elite qualities and capabilities	35	(6)
Regeneration, continuity and cultural reproduction	41	(2)
Business elites and corporate governance	43	(5)
Conclusion	48	(2)
3 Governance Regimes in Comparative Perspective	50	(37)
Historical background and underlying causes	52	(11)
Executive remuneration	63	(4)
The importance of ownership	67	(9)
Board structure and composition: where does power lie?	76	(8)
Conclusion	84	(3)
4 Social Origins and the Education of Business Elites	87	(36)
The social foundations of elite careers	89	(4)
Education, social stratification and the 'legitimating illusion'	93	(3)
Education and elitism in France	96	(8)
Education and elitism in the UK	104	(8)
Education and elite recruitment	112	(9)
Conclusion	121	(2)
5 Elite Careers and Lifestyles	123	(40)
Entering the business world	126	(4)
Routes to the top	130	(8)
Elite careers	138	(5)
Women in the boardroom	143	(5)
Elite lifestyles	148	(12)
Conclusion	160	(3)
6 Networks, Power and Influence	163	(32)
Directors and corporate interlocks	164	(8)
Implications of interlocking directorships	172	(4)
The power of networks	176	(6)
The role of the family	182	(2)
The French state elite	184	(4)
The importance of getting the 'right people' on board	188	(4)
Conclusion	192	(3)
7 Corporate Governance and the New Global Economy	195	(44)
Globalisation and foreign direct investment	196	(5)
Corporate restructuring and the new global economy	201	(8)
Corporate governance in an interdependent world	209	(4)
Enduring differences in governance regimes	213	(4)
Convergent tendencies and shareholder activism	217	(6)
Rewarding business elites	223	(7)
Mindsets and the reflex of national sovereignty	230	(5)
Conclusion	235	(4)
8 Conclusion — Elites, Power and Governance	239	(21)
Elite cohesion and institutional solidarity	240	(5)
Cultural reproduction	245	(3)
Surface similarities and deeper structural differences	248	(3)
Multiple structuring structures	251	(2)
Corporate governance and business elites	253	(2)
Competing capitalisms in an interdependent world	255	(3)
Final thoughts	258	(2)
Appendix 1 Sources and Methods	260	(9)
Appendix 2 Reference Data	269	(18)
Notes	287	(41)
Bibliography	328	(16)
Index	344