Sociology of the firm and changes in Capitalism
Coordination : Pierre FRANÇOIS
Business and its shareholders
Here we present a review of the literature on big business and investigate the conditions for its existence and the historic incarnations of what is its foundation, capitalistic investment. We look at two critical periods for this organizational form : the establishment of integrated big businesses at the end of the nineteenth century and the shareholder revolution at the end of the twentieth century. While referring in particular to the devel- opment of legal support for capitalistic investment and the consequences for employees for the adoption of shareholder value, we focus on the issue of relations between shareholders and managers.
Key words. BUSINESS – CAPITALISM – SHAREHOLDER – ECONOMIC ELITES – FINANCIALIZATION