The phantom of Palais Brongniart: economic patriotism and the Paris Stock Exchange
The phantom of Palais Brongniart: economic patriotism and the Paris Stock Exchange
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布隆尼亚宫的幽灵:经济爱国主义和巴黎证券交易所
DOI:
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发表时间:
2012
期刊:
影响因子:
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通讯作者:
Paul Lagneau
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文献类型:
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作者:
Helen Callaghan;Paul Lagneau
France is famous for promoting national champions, notably by preventing foreign takeovers, but in 2005–2006, the French government allowed the New York Stock Exchange to take control of Euronext, a French-led pan-European company that includes the Paris Bourse. By mapping the public discourse surrounding this striking case of non-intervention, we explain why opponents of the transatlantic merger failed in their appeals to ‘economic patriotism’. Discursive strategies designed to justify discrimination against territorially defined outsiders ran into several hurdles, including weak patriotic sentiments for the company concerned; a lack of patriotic alternatives to the proposed merger; and the questionable patriotic credentials of those demanding intervention. Our findings advance research on demand side of ‘economic patriotism’, including its discursive dimension. Beyond that, they inform research on business–government relations, and on the political implications of corporate ownership structures.