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A flexible model for efficient employee participation in UK companies
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Kokkinis, Andreas and Sergakis, K. (2020) A flexible model for efficient employee participation in UK companies. Journal of Corporate Law Studies, 20 (2). pp. 453-493. doi:10.1080/14735970.2020.1735161 ISSN 1757-8426.
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WRAP-flexible-model-efficient-employee-participation-UK-companies-Kokkinis-2020.pdf - Accepted Version - Requires a PDF viewer. Download (1136Kb) | Preview |
Official URL: http://dx.doi.org/10.1080/14735970.2020.1735161
Abstract
orporate contractarian literature dismisses employee participation as inefficient on the grounds that, if it were efficient, it would be voluntarily adopted widely. We argue that the scarcity of employee participation in the UK can be attributed to shareholder short-termism and behavioural biases and, therefore, that the question of its efficiency remains open for companies that want to explore this possibility. We thus propose a flexible approach that UK companies can follow to implement employee participation. Our approach takes into account the broader UK institutional framework by creating adaptable and long-term solutions for both listed and large private companies. We argue that the most pragmatic way to encourage efficient employee participation is through the introduction of formal employee advisory panels and, in the longer term, the proliferation of employee share ownership schemes coupled with special rights to appoint a number of directors in tandem with the size of employee share ownership.
Item Type: | Journal Article | ||||||||
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Divisions: | Faculty of Social Sciences > School of Law | ||||||||
Journal or Publication Title: | Journal of Corporate Law Studies | ||||||||
Publisher: | Routledge | ||||||||
ISSN: | 1757-8426 | ||||||||
Official Date: | 2020 | ||||||||
Dates: |
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Volume: | 20 | ||||||||
Number: | 2 | ||||||||
Page Range: | pp. 453-493 | ||||||||
DOI: | 10.1080/14735970.2020.1735161 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Reuse Statement (publisher, data, author rights): | This is an Accepted Manuscript of an article published by Taylor & Francis in Journal of Corporate Law Studies on 18 Mar 2020, available online: http://www.tandfonline.com/10.1080/14735970.2020.1735161 | ||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||
Date of first compliant deposit: | 4 March 2020 | ||||||||
Date of first compliant Open Access: | 18 September 2021 | ||||||||
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