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Our objective is to test the consistency between share capital financialization, implementation of responsible restructuring and sustainable development policy, focusing more particularly on the implementation of corporate social commitments. In order to develop a model that puts these three processes (restructuring, financialization and social policy) in perspective, we proceed in two steps: we examine the consequences of financialization on both the restructurings and on HRM practices and then the consequences of restructurings due to financialization on employment, the evolution of labour management and the functioning of HRM as seen in management literature. The methodology used to test this model on the Accor Group case is presented.

Since Thomas Kuhn (1962), a historian of science who gave ‘paradigm’ its contemporary meaning, the term ‘paradigm’ has been widely used in science and social sciences to refer to a theoretical framework or thought pattern in any given discipline, or broadly, a set of experiences, beliefs and values that affect individual perceptions of a reality and their subsequent reactions. A dominant paradigm is the widely held system of thought in a society at a particular period of time. For Kuhn, a dominant paradigm can be changed and replaced by a new one, which often occurs in a revolutionary manner in science. In social sciences, ‘paradigm shift’ implies the changing ways of understanding and organising a social reality.