Introduction

According to Mr. Berglof, it is possible to distinguish two different systems of Gouvernance.

Shareholder approaches (directed networks):

Anglo-Saxon system of governorship (financial capitalism):

- Centered on the relations shareholders - leaders.

- Creation of value for the shareholders.

- Short-term Orientation.

- Strong dispersion of the capital.

- Weak presence of the banks to the capital.

Stakeholder approaches (directed banks):

System of governorship germano - Japanese (banking capitalism):

- Catch in consideration of all the recipients (shareholders, employees, banks…).

- Long-term Orientation.

- The dialog and the internal resolution of the conflicts are privileged.

- Level of rather high debt.

- Little dispersed Capital.

- Banks often present at the capital.