THE INCOMPLETE SEPARATION OF OWNERSHIP AND CONTROL: WHERE ARE THE MANAGERS IN LAW?
International audience Shareholders are in law excluded from management, unless they are appointed as directors or employed as managers. But, at the same time they keep control rights. The separation is therefore incomplete and this is an issue when managerial autonomy is considered as a condition f...
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ftminesparistech:oai:HAL:hal-01822286v1 2024-05-19T07:42:48+00:00 THE INCOMPLETE SEPARATION OF OWNERSHIP AND CONTROL: WHERE ARE THE MANAGERS IN LAW? Segrestin, Blanche Johnston, Andrew Hatchuel, Armand Centre de Gestion Scientifique i3 (CGS i3) Mines Paris - PSL (École nationale supérieure des mines de Paris) Université Paris Sciences et Lettres (PSL)-Université Paris Sciences et Lettres (PSL)-Institut interdisciplinaire de l’innovation (I3) Centre National de la Recherche Scientifique (CNRS)-Centre National de la Recherche Scientifique (CNRS) University of Sheffield Sheffield Rekyavik, Iceland 2018-06-20 https://minesparis-psl.hal.science/hal-01822286 https://minesparis-psl.hal.science/hal-01822286/document https://minesparis-psl.hal.science/hal-01822286/file/Johnston%20Segrestin%20EURAM%20160518.pdf en eng HAL CCSD hal-01822286 https://minesparis-psl.hal.science/hal-01822286 https://minesparis-psl.hal.science/hal-01822286/document https://minesparis-psl.hal.science/hal-01822286/file/Johnston%20Segrestin%20EURAM%20160518.pdf info:eu-repo/semantics/OpenAccess EURAM European Academy of Management https://minesparis-psl.hal.science/hal-01822286 EURAM European Academy of Management, Jun 2018, Rekyavik, Iceland Management history Manager company law corporate governance innovation [SHS.GESTION]Humanities and Social Sciences/Business administration info:eu-repo/semantics/conferenceObject Conference papers 2018 ftminesparistech 2024-04-25T00:40:54Z International audience Shareholders are in law excluded from management, unless they are appointed as directors or employed as managers. But, at the same time they keep control rights. The separation is therefore incomplete and this is an issue when managerial autonomy is considered as a condition for stakeholder management and corporate social responsibility. Past research on the separation between ownership and control has extensively studied the distinction between shareowners and directors, but less the distinction between directors and managers. In this article, we investigate why management has emerged as a distinctive function, and how the law receives it. Our study shows that it only has accommodated it but overlooked the rationales behind the historical emergence of management. The lack of conceptualization of the management in law allowed reforms in the second half of the twentieth century that have weakened managerial discretion, and the separation of ownership and control. Our article thus calls for further research in law and management to reappraise the status of managers. Conference Object Iceland MINES ParisTech: Open Archive (HAL) |
institution |
Open Polar |
collection |
MINES ParisTech: Open Archive (HAL) |
op_collection_id |
ftminesparistech |
language |
English |
topic |
Management history Manager company law corporate governance innovation [SHS.GESTION]Humanities and Social Sciences/Business administration |
spellingShingle |
Management history Manager company law corporate governance innovation [SHS.GESTION]Humanities and Social Sciences/Business administration Segrestin, Blanche Johnston, Andrew Hatchuel, Armand THE INCOMPLETE SEPARATION OF OWNERSHIP AND CONTROL: WHERE ARE THE MANAGERS IN LAW? |
topic_facet |
Management history Manager company law corporate governance innovation [SHS.GESTION]Humanities and Social Sciences/Business administration |
description |
International audience Shareholders are in law excluded from management, unless they are appointed as directors or employed as managers. But, at the same time they keep control rights. The separation is therefore incomplete and this is an issue when managerial autonomy is considered as a condition for stakeholder management and corporate social responsibility. Past research on the separation between ownership and control has extensively studied the distinction between shareowners and directors, but less the distinction between directors and managers. In this article, we investigate why management has emerged as a distinctive function, and how the law receives it. Our study shows that it only has accommodated it but overlooked the rationales behind the historical emergence of management. The lack of conceptualization of the management in law allowed reforms in the second half of the twentieth century that have weakened managerial discretion, and the separation of ownership and control. Our article thus calls for further research in law and management to reappraise the status of managers. |
author2 |
Centre de Gestion Scientifique i3 (CGS i3) Mines Paris - PSL (École nationale supérieure des mines de Paris) Université Paris Sciences et Lettres (PSL)-Université Paris Sciences et Lettres (PSL)-Institut interdisciplinaire de l’innovation (I3) Centre National de la Recherche Scientifique (CNRS)-Centre National de la Recherche Scientifique (CNRS) University of Sheffield Sheffield |
format |
Conference Object |
author |
Segrestin, Blanche Johnston, Andrew Hatchuel, Armand |
author_facet |
Segrestin, Blanche Johnston, Andrew Hatchuel, Armand |
author_sort |
Segrestin, Blanche |
title |
THE INCOMPLETE SEPARATION OF OWNERSHIP AND CONTROL: WHERE ARE THE MANAGERS IN LAW? |
title_short |
THE INCOMPLETE SEPARATION OF OWNERSHIP AND CONTROL: WHERE ARE THE MANAGERS IN LAW? |
title_full |
THE INCOMPLETE SEPARATION OF OWNERSHIP AND CONTROL: WHERE ARE THE MANAGERS IN LAW? |
title_fullStr |
THE INCOMPLETE SEPARATION OF OWNERSHIP AND CONTROL: WHERE ARE THE MANAGERS IN LAW? |
title_full_unstemmed |
THE INCOMPLETE SEPARATION OF OWNERSHIP AND CONTROL: WHERE ARE THE MANAGERS IN LAW? |
title_sort |
incomplete separation of ownership and control: where are the managers in law? |
publisher |
HAL CCSD |
publishDate |
2018 |
url |
https://minesparis-psl.hal.science/hal-01822286 https://minesparis-psl.hal.science/hal-01822286/document https://minesparis-psl.hal.science/hal-01822286/file/Johnston%20Segrestin%20EURAM%20160518.pdf |
op_coverage |
Rekyavik, Iceland |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
EURAM European Academy of Management https://minesparis-psl.hal.science/hal-01822286 EURAM European Academy of Management, Jun 2018, Rekyavik, Iceland |
op_relation |
hal-01822286 https://minesparis-psl.hal.science/hal-01822286 https://minesparis-psl.hal.science/hal-01822286/document https://minesparis-psl.hal.science/hal-01822286/file/Johnston%20Segrestin%20EURAM%20160518.pdf |
op_rights |
info:eu-repo/semantics/OpenAccess |
_version_ |
1799482496969080832 |