What Future for Codetermination and Corporate Governance in Germany?
Опубликовано на портале: 25-03-2008
PSE Working Papers.
2005.
No. 2005-39.
Тематические разделы:
Contrary to the prognosis derived from the variety of capitalism literature, since
the mid-90s
the significant restructuring of large German corporations in the direction of shareholder
value
seems to have been compatible with the persistence of a genuine configuration of
industrial
relations, including co-determination at the firm level. This article investigates
whether this is a
long lasting compatibility and tests various research programs in institutional economics
and thus
explores the consequences alternative hypotheses about institutional complementarity
or
hierarchy, comparative institutional analysis, comparative historical analysis, hybridization
and
finally régulation theory. Even if the process is highly uncertain, one major
conclusion emerges: the
old German model is probably irreversibly transformed and is evolving towards an
unprecedented configuration, with only mild and distant relations to a typical liberal
brand of
capitalism.
Ключевые слова
comparative political economy corporate governance german economy German model labour co-determination sociology of economic development varieties of capitalism
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