Autore: Smith, Stephen C.
Titolo: On the economic rationale for codetermination
Periodico: European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1990 - Fascicolo: 12 - Pagina iniziale: 1 - Pagina finale: 33

This paper develops a positive economic case for codetermination law resting on the correction of labor and capital market and organizational failures. A legally mandated codetermination structure is shown to provide employee "checks" on several structural incentives for management opportunism. Codetermination is shown to offer advantages for technical efficiency and knowledge generation through its protection of specific human capital investments. Financial markets cannot enforce codetermination due to a set of free rider problems.


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Testo completo: http://hdl.handle.net/1814/351

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