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This book provides the first ever comprehensive economic evaluation of the long-standing German system of works councils and worker directors on company boards. This system of codetermination, or Mitbestimmung, is unique in the degree of information provision, consultation, and participation ceded employees. Addison analyzes the effects of works councils on establishment productivity, profitability, investment in physical and intangible capital, employment, training, wages and organizational flexibility, as well as the influence of worker directors on some of the same indicators plus, critically, shareholder value. Today, works councils are in decline while worker directors have scarcely been embraced either from within or without. This book examines these challenges and addresses the likely evolution of codetermination.
John T. Addison is Hugh C. Lane Professor of Economic Theory at the Moore School of Business, University of South Carolina, and research fellow at the Center for Labor and Employment Law at New York University School of Law. In Europe, he is also research fellow at the Institute for Employment Research of the German Federal Labor Agency in Nuremberg, at the Institute for the Study of Labor (IZA) in Bonn, and at GEMF at the University of Coimbra in Portugal. Much of this book was written when Addison was Research Director and Professor of Economics at Queen’s University School of Management in Belfast.
Preface * Introduction * Context: What Is Codetermination? * The Theory of Codetermination * The Early Econometric Literature on Works Councils * The Emergence of a More Positive View of Workplace * Codetermination: Evidence from Some Larger Datasets * The Impact of Workplace Codetermination: Findings from the Third Phase of Research * Codetermination at the Enterprise Level * European Rules for Informing and Consulting Employees and the European Dimension * Codetermination in Retrospect and Prospect * Notes * Bibliography
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