Developing an alternative and more realistic modeling of the firm, the key point of this paper is that workers cooperatives represent a form of corporate governance, which is a subset of the participatory organizational form, that constitutes a competitive alternative to the typical relatively...

Recent years have witnessed an enormous amount of reorganization of the corporate sector in the US and in Europe. This paper examines the role of market competition for this trend in corporate reorganization. We find that at intermediate levels of competition the CEO of the corporation decides...