study a reform in Germany that abruptly abolished this mandate for certain firms incorporated after August 1994 but locked …

German system of codetermination,' a governance system under which employees are allocated some control rights over corporate … assets by law. Codetermination laws require that employees be represented on the (supervisory) board of directors. If … codetermination sufficiently empowers employees, and if stockholders' rights cannot be contractually protected, then employees may …

pillars of the model: sectoral collective bargaining and firm-level codetermination. Relative to the United States, Germany …-level distributional conflict. Relative to other European countries, Germany makes it easy for employers to avoid coverage or use … unemployment, but may also erode bargaining coverage and increase inequality. Meanwhile, firm-level codetermination through worker …

In line with the fallacy of riskification of uncertainty by which decision makers believe that the effects of … markets, such as natural disasters, terrorist attacks, and financial crises--as a problem of risk management. This is … business continuity. Taken together, this article offers the foundation for a behaviorally plausible, decision …

ingredients: (a) decision rights can be transferred ex ante through ownership, (b) managers (and possibly workers) enjoy private …

organization; and relationships with limited partners. In selecting investments, VCs see the management team as more important than …

We provide a comprehensive overview of codetermination, i.e., worker representation in firms' governance and management … informal worker involvement in decision-making, independently of formal codetermination. Third, codetermination laws may … that existing quasiexperimental estimates suggest that codetermination has zero or very small positive effects on worker …