The Social and Fiscal Contribution of French Top 40 Companies

6 September 2018

The social and fiscal contribution from large companies in France and worldwide remains largely unrecognised. Traditional accounting and financial presentations do not provide for externalisation of the creation of value for the broader community. Devised to present corporate earnings, they focus on financial data and understate the benefits for the French and global community while overstating shareholders’ income by presenting dividends before taxes. This study aims to remedy this.

It presents a new way of quantifying the social and fiscal contribution from CAC 40 companies and how it is shared between employees, governments and shareholders. It shows that the CAC 40 companies created €338 billion in wealth for the French and global community in 2016, and it clarifies the sharing of this wealth. This €338 billion generated €240 billion in wealth for employees, €66 billion for French and foreign governments and a net €32 billion for shareholders.

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EPICENTER publications and contributions from our member think tanks are designed to promote the discussion of economic issues and the role of markets in solving economic and social problems. As with all EPICENTER publications, the views expressed here are those of the author and not EPICENTER or its member think tanks (which have no corporate view).