Chair Theory of the Enterprise
Chair Theory of the Enterprise

Chair Theory of the Enterprise

Our Chair

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The chair Theory of the Enterprise, Models of Governance and Creative Creation was created at Mines Paris, PSL in 2015 with the ambition of rethinking corporate law based on its creative power and the responsibilities associated with it. The concept of “entreprise à mission” (mission-driven company) was one of its main proposals. Introduced by the Pacte Act of 2019, there are now more than 2,000 “sociétés à mission” (legal corporate form) and research can now discover the diversity of their operations as well as the originality of the systemic dynamics they generate. But the deployment of sociétés à mission also makes it possible to explore new ways of bringing about the necessary collective transitions.
The third cycle of the Chair, inaugurated in April 2025, will continue the study of sociétés à mission, their functioning and impact, and their possible application on a European scale. In addition to looking at companies per se, the Chair will also broaden its field of research to include the conditions that encourage collective transitions. Today, uniform regulations and coordination around major scenarios are increasingly contested. To what extent can we design collective transitions on other bases, based on local trajectories or differentiated modes of governance? What principles could guarantee sustainable management of activities at individual, ecosystem and global levels?
 

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Research themes

The Chair’s third cycle is organised around three complementary research themes.

Theme 1 – Purpose-driven corporations

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The Chair Theory of the Enterprise pioneered research on the société à mission, the French purpose-driven company.
From its creation in 2015, the Chair proposed to rethink company law on the basis of the creative power of the enterprise and the responsibilities that come with it. The notion of “mission-driven company” was one of its main proposals: allowing a company to write into its articles of association a mission that binds its managers and shareholders over time, and whose implementation is monitored by a dedicated body.
Introduced into French law by the 2019 PACTE Act, the société à mission now counts around 2,000 companies. The Chair studies its deployment: the diversity of missions, the functioning of mission committees, the effects on shareholding and work, and the possible extension of the model at the European level.
Key texts
  • Segrestin, B., & Hatchuel, A. (2012). Refonder l’entreprise. Seuil, La République des idées.
  • Segrestin, B., Hatchuel, A., & Levillain, K. (2021). When the Law Distinguishes Between the Enterprise and the Corporation: The Case of the New French Law on Corporate Purpose. Journal of Business Ethics, 171(1), 1–13.
  • Segrestin, B., Hatchuel, A., & Levillain, K. (2022). Rethinking the Purpose of the Corporation with the Creative Power of the Enterprise. In R. E. Meyer, S. Leixnering & J. Veldman (Eds.), The Corporation: Rethinking the Iconic Form of Business Organization. Research in the Sociology of Organizations, 78. Emerald.
  • Segrestin, B., Levillain, K., & Hatchuel, A. (2025). Incorporating Purpose: The New Legal Foundations for the Corporation and its Management. Cambridge University Press, Elements in Corporate Governance.
  • Segrestin, B., Lévêque, J., & Levillain, K. (2025). Sociétés à mission : une étude des comités de mission. Revue française de gestion, 51(323), 213–233.
Projects

Theme 2 – Just transitions

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Framing transitions as a rescue from a common peril, to make them both more effective and fairer.
Transition policies often face a dilemma between effectiveness and fairness: the instruments considered aim first at effectiveness and leave the question of justice to case-by-case political arrangements. The Chair proposes to reverse this approach. When an action is recognised as a rescue from a common peril, a solidarity rule set in advance can guarantee both the most effective measures and everyone’s consent to the efforts required.
Such a rule has existed since Antiquity in maritime law: general average, which shares the sacrifices made to save a venture among all parties, in proportion to the value saved. The Chair explores its applications to climate action, air quality and, more broadly, to perils calling for effective and fair transitions: water shortages, pesticide reduction… It also examines evaluation and reporting standards, and measures that can be actionable locally while remaining consistent with the requirements of global transitions.
Key texts
  • Demonsant, C., Hatchuel, A., Levillain, K., & Segrestin, B. (2023). Le changement climatique comme péril commun. Réconcilier action climatique et justice sociale. Presses des Mines.
  • Demonsant, C., Levillain, K., & Segrestin, B. (2025). Distributing Burdens for Climate Rescue: Beyond Collective Action Problems. SSRN.
  • Demonsant, C., Hatchuel, A., Levillain, K., & Segrestin, B. (2026). Pour une action climatique équitable : penser le sauvetage commun. Revue Française de Gestion.
Projects

Theme 3 – Legal constitution of collectives fit for transitions

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From the liability of the legal person to the status of executives, the notion of “mission” invites us to rethink the frameworks that constitute creative collectives — through control mechanisms, but also through management standards that allow third parties to challenge or call them to account.
This theme extends the Chair’s past work on the articulation between law and management, in particular on how the law progressively incorporates requirements based on the growth of management knowledge: how should a duty-of-vigilance plan or a transition plan be assessed? What does it mean to manage sustainability issues well?
It will extend this questioning to how the notion of legal person can be rethought today on the basis of management standards suited to transitions: beyond a private legal or contractual order, the legal person should be seen as the constitution of a subject within society, whose conditions of responsibility and legitimacy must now be made compatible with a general interest unsettled by transitions.
Projects
 
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