Von Pfadabhängigkeit wird gesprochen, wenn Entscheidungen in der Vergangenheit die Handlungsoptionen heute beeinflussen oder sie sogar einengen. Der am Wissenschaftszentrum Berlin für Sozialforschung entwickelte Mitbestimmungsindex (MBix) analysiert anhand von sechs Indikatoren die...

In the varieties of capitalism literature, Germany is understood as a monolithic model of a coordinated market economy. This analysis shows how institutions for configuring capital and labour at the national level are implemented at state and regional level. By focussing on the labour side this...

In the varieties of capitalism literature, Germany is understood as a monolithic model of a coordinated market economy. This analysis shows how institutions for configuring capital and labour at the national level are implemented at state and regional level. By focussing on the labour side this...

Can board-level co-determination promote Good Work? Good Work can be characterised by fair income, job security, opportunities for personal development, low stress and misuse, and high-quality work equipment. Good Work is not easy to measure, in part since it has a subjective aspect. For this...

Are courts effective monitors of corporate decisions? In a controversial landmark case, the Delaware Supreme Court held directors personally liable for breaching their fiduciary duties, signaling a sharp increase in Delaware's scrutiny over corporate decisions. In our event study, low-growth...

Theory suggests that controlling shareholders can influence firm value through both shared benefits creation and private benefits consumption. Using negotiated control-block transfers from 31 countries, we look beyond ownership concentration and investigate how controlling shareholder...

Prior research shows that firms tend to recruit directors from the geographically-proximate area. Due to a limited supply of qualified individuals in a given area, firms located in close proximity have to share a limited pool of talented individuals. As a result, the larger the number of firms...

In this paper, we study shareholder views on corporate political contributions. We find that, with shareholders’ explicit approval, firms are more likely to have higher corporate political contribution, measured by the amount of donations to the US political parties in the next election cycle....

Most large UK private-sector organizations are listed companies that are subject to intense pressures to enhance shareholder value. The question arises of whether this constrains the ability of UK managers to pursue genuine partnership arrangements with long-term stakeholders, including...

Legislation affects corporate governance and the return to human and financial capital. We allow the preference of a political majority to determine both the governance structure and the extent of labor rents. In a society where median voters have relatively more at stake in the form of human...