Loderer, Claudio; Benelli, Giuseppe; Lys, Thomas (1987). Labor participation in corporate policy-making decisions: West Germany's experience with codetermination. The journal of business, 60(4), pp. 553-575. The University of Chicago Press
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1987 Labor Participation in Corporate Policy-making Decisions West Germany's Experience with Codetermination.pdf - Published Version Available under License Publisher holds Copyright. Download (3MB) | Preview |
If workers are wealth maximizers, codetermination should lead to less risky investments, smaller dividends, reduced firm leverage, higher and more stable salaries, and more capital-intensive production processes. Unless codetermination also increases productivity by raising wokers' morale and satisfaction or reduces information asymmetries within the firm, shareholder wealth and firm value will decline. An analysis of West Germany's case, however, indicates that codetermination has little, if any, effect on corporate operations and performance.
Item Type: |
Journal Article (Original Article) |
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Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Financial Management |
UniBE Contributor: |
Loderer, Claudio |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0021-9398 |
Publisher: |
The University of Chicago Press |
Language: |
English |
Submitter: |
Karin Dolder |
Date Deposited: |
06 Feb 2014 09:20 |
Last Modified: |
05 Dec 2022 14:27 |
BORIS DOI: |
10.7892/boris.39598 |
URI: |
https://boris.unibe.ch/id/eprint/39598 |
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