CONFERENCES

The OEE regularly organises seminars and conferences where researchers and academics present and discuss the results of their research. The aim of these events is to encourage debate and exchange not only within the academic world but also between academics and professionals alike.

Presentations that were made during our conferences have been classified according to the three following themes:

Events that the OEE has participated in have also been included.

March 15, 2017

State of play and prospects for shareholding  in France. Lessons from the Comparative Approach

On Wednesday 15 March, the OEE and ANSA organized a conference on the shareholding structure of French and European companies.

In Le Livre blanc on Emergencies for Growth published in the autumn 2016, ANSA presented several proposals for the development of shareholding that constitute an essential issue for the financing of the economy.

In order to deepen this work, Christian Schricke, general delegate of ANSA, spoke of the decline in individual shareholding in France and the measures advocated by ANSA to remedy this.

Jacques de Larosière, President of the OEE, recalled that the economy households finance the economy more than their savings is not directed at the equity of companies. Indeed, the confiscatory taxation of investment in equities illustrates the contradiction between political discourse and the reality of taxation. The French continue to save, but especially in banking products. The aim of the ECB's monetary policy was to increase household consumption and investment. Unlike the United States, however, the Central Bank's Quantitative Easing did not have the effect of directing savings to equities, largely because of taxation, and households did not benefit from Effects of wealth that might have prompted them to consume more. Finally, it is mainly the deficit states that have benefited from Quantitative Easing by financing themselves at low cost.

Xavier Delsol, associate lawyer at Delsol Avocats, and Virginie Seghers, president of PROPHIL, presented the first European study on shareholder foundations. While these are numerous and powerful, in several European countries (Germany, Denmark, Sweden,...), there are in France only four majority or reference shareholder foundations. The authors make several proposals for their development.

Didier Davydoff, Director of the OEE, presented the work of the Observatory on ownership in Europe. He presented statistics on direct and indirect equity investment (via investment funds, life insurance and family holdings). He showed that the weight of non-financial enterprises in the shareholding of other companies has increased, as groups of companies of all sizes represent an increasing share of the French economy. He also presented new statistics on the geographical origin of foreign investors in French equities.

AGGREGATOR OF ECONOMIC AND FINANCIAL DATA
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