Protect the businesses to be “national” ? “But what is a company “national” ” ?

Companies. At the time of the public happy wave their flags and ignite to players they seldom see evolve in their own championships, the world Cup illuminates, in its own way, the complex issues of globalization : a team of “national” may be made up of players that don’t evolve and abroad, where they create value.

Same observation in the geopolitical competition that has been raging for a few months : the political claim to defend vociferously their companies, ” national “, to shots of tariffs or protective legislation. But what is a company “national” ?

The annual report 2018 the audit firm PwC compiles the list of the top 100 global companies according to their market capitalisation and their nationality (” Global Top 100 Companies “, march, 2018) : 54 of them are american, 17 asian, including 12 chinese, 1 african, 1 south american and 27 european of which 4 are French (LVMH, Total, L’oréal, Sanofi).

This ranking highlights the concentration and control of the funding of mainstream markets, as well as the modification of the geopolitical forces, as we have seen this year two chinese companies among the top ten. But firms that enter in the ranking are rarely strictly ” national “, that is to say, fully american, chinese or French.


A study of the French Institute of government companies the shows in the French case (” large companies are (still) French ? “Evidence no. 6, march, 2018). It focuses on the 85 largest companies registered in the trade register in France, listed on Euronext Paris and produce about one-third of our gross domestic product. Three dimensions are taken into account : their numbers, their turnover and their capital. For each of these dimensions is calculated as the share…

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