The Relationship Between the Board of Directors and the Performance/Value Creation in a Context of Privatization: The Case of French Companies

The aim of this paper is to shed light on the cognitive as well as the disciplinary role of one important governance mechanism that is the board of directors in a privatization context. Using a sample of privatized French companies, we examine the relationship between the size, component and structure of this mechanism to the performance and value creation on the post privatization period. Thus, the majority of our findings have support on the theory of cognitive governance, one aspect of governance that was ignored in previous research.