Le financement externe des sociétés non financières depuis la déréglementation financière de 1984

On the eve of the 1980s, French companies were financed by significant debt through banks and numerous specialized, segmented and compartmentalized financial institutions. During the following decade, reforms were undertaken to get out of this "economy of administered funding". After presenting the reform proposals of the early 1980s, this article analyzes the evolution of the financing and governance of non-financial companies that rely more on financial markets. However, it appears that the changes in funding structures were more modest than considered. Classification JEL : G21, G28, G30, G32, G38.