Johnston, Andrew and Njoya, Wanjiru (2014) Employee voice in corporate control transactions. In: Bogg, Alan and Novitz, Tonia, (eds.) Voices at Work: Continuity and Change in the Common Law World. Oxford University Press (OUP), pp. 400-420. ISBN 9780199683130
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Abstract
This chapter examines the economic arguments for employee voice in takeover situations. The main argument is that shareholder value corporate governance undermines employee specialization and makes companies less productive. Voice rights would make it harder for company decision-makers to breach implicit contracts with employees and expropriate their share of the productivity gains from specialization. However, to date, these arguments have made little impact on either labour law discourse or law and economics debates about regulation of corporate governance. The chapter reviews the main provisions relating to employees in the UK, US, Canada, and Australia, and concludes that employees lack meaningful voice rights in takeover situations. It concludes with suggestions about how employee voice might be made more meaningful in the takeover context. It is hoped that this chapter might contribute to bringing labour lawyers into deeper conversation with scholars of progressive company law.
| Item Type: | Book Item |
|---|---|
| Divisions: | Faculty of Social Sciences > School of Law |
| Publisher: | Oxford University Press (OUP) |
| ISBN: | 9780199683130 |
| Book Title: | Voices at Work: Continuity and Change in the Common Law World |
| Editor: | Bogg, Alan and Novitz, Tonia |
| Official Date: | 2014 |
| Dates: | Date Event 2014 Published May 2014 Available 3 April 2014 Accepted |
| Page Range: | pp. 400-420 |
| DOI: | 10.1093/acprof:oso/9780199683130.003.0020 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Restricted or Subscription Access |
| Related URLs: | |
| URI: | https://wrap.warwick.ac.uk/144686/ |
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