Industrial Group's Productive and Financial Investment Strategies

Abstract

Evolution of the firms' investment behaviour is interpreted by heterodox theories as the resultant of the financialisation of the accumulation regime. The French School of Regulation speaks thus about patrimonial capitalism. Strategies of productive and financial investments, and the way of financing such activities, respond to increased shareholder requirements about the return of the invested funds. In order to check these assumptions, tests on panel data are carried out starting from a sample on great French groups, quoted on the SBF 250 Index.Finance; Investment; Rate of Profit; Growth Regime; Panel data