According to a study carried out by the firm Ey Parthenon, French managers are more inclined to invest and feel more supported by their investors than their international counterparts.
Despite the dragging health crisis, French leaders are optimistic. This is what emerges from the CEO Survey 2022 study carried out by Ey Parthenon, which questioned 2,140 business leaders, including 100 in France at the head of companies, 80% of which have a turnover of more than 500 million dollars. .
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This confidence in the future translates into a willingness to invest. Thus, 67% of French business leaders say they want to accelerate their investments abroad against 45% of world leaders questioned in this study. Far from being frightened by the geopolitical risks and the protectionist attitudes of certain States, the bosses of France consider it imperative to support the development of their international subsidiaries. They are also more numerous (70% against 47% for world leaders) to declare finding support from their investors.
“Disruption”
A fact that is all the more surprising since, according to previous studies conducted by Ey Parthenon, the French are “traditionally and especially before the pandemic, less optimistic than the leaders of the rest of the world”, says Bruno Bousquié, head of the strategy consulting firm Ey Parthenon. According to him, this state of mind is explained in particular by the support put in place by the State since the start of the pandemic. The “whatever the cost” brandished by the Minister of the Economy, Bruno Le Maire, “has benefited companies and reassured shareholders and investors”, he explains. But not only. The pandemic and the associated economic difficulties have demonstrated the ability of French companies to change their development strategy to respond to this crisis situation. As proof, if for a third of the leaders the Covid-19 caused a “disruption” in their industry, among the French, it is seen more as a positive element than a negative. It is the opposite for international leaders.
The environment, a priority for French leaders
If the French leaders have their eyes turned towards the post-pandemic, environmental issues are now part of their objectives. Strengthening their performance in the environmental, social and governance (EDG) criteria and their sustainable footprint indeed figures as the first merger and acquisition activity envisaged. This priority ranks second for global leaders, behind acquisitions to increase operational capabilities. And again, the French feel supported by their investors. Only 22% believe they had to face resistance against 65% for their international counterparts. “There is, in France, an obvious societal pressure which illustrates an awareness among consumers, business managers and among investors. Added to this is the sustained increase in the price of energy. The combination of these two factors encourages investments in the field of environmental protection and decarbonization and they are also more easily acceptable by investors and perceived as value creators”, commented Bruno Bousquié.
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According to the expert, beyond French optimism, the study illustrates the vision “medium, long term” executives and investors compared to their North American counterparts “more attached to short-term performance”. “The willingness to invest shown by French bosses should create export capacity and growth in a sustainable way in the years to come”he predicted.