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Article Dans Une Revue Economics of Innovation and New Technology Année : 2005

The governance of innovative firms: an evolutionary approach

Résumé

Corporate governance has been in the recent years one of the most debated issues in conventional economic approaches. Agency theory combined with financial indicators has particularly contributed to the development of shareholder value as a key concept in companies' governance both at a theoretical and empirical level. We argue that an evolutionary perspective can be developed on the governance of innovative firms since (1) conventional economic approaches only consider a restricted part of this complex issue, and (2) this restricted vision applied in practice has driven the economic system into major coordination problems and turbulences. Based on empirical investigations into the telecommunications industry, and guided by a simple model of evolutionary game, we propose new principles of corporate governance centred upon managerial entrepreneurship and its role on innovation and industry dynamics. The outcome is a set of rules of conduct for the manager and the shareholder
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Dates et versions

hal-00203620 , version 1 (15-01-2008)

Identifiants

  • HAL Id : hal-00203620 , version 1

Citer

Jackie Krafft, Jacques-Laurent Ravix. The governance of innovative firms: an evolutionary approach. Economics of Innovation and New Technology, 2005, 14 (3-4), pp.1-25. ⟨hal-00203620⟩
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