Models of the Company and the Employment Relationship
AbstractHow the company is conceptualized has important implications for employees. Divergent theoretical approaches towards the company are synthesized below to form three models: the ownership, nexus of contracts, and social institution models. The first two endorse current UK corporate governance practice, in which companies are run for the ultimate benefit of their shareholders, who have the exclusive right to appoint the board. The third model questions this arrangement and, more generally, the characterization of the company as a wholly private association. The conclusion examines the implications of the third model for reform of company law and governance in the UK. Copyright Blackwell Publishing Ltd/London School of Economics 2003.
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Bibliographic InfoArticle provided by London School of Economics in its journal British Journal of Industrial Relations.
Volume (Year): 41 (2003)
Issue (Month): 3 (09)
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- Simon deakin & Ajit Singh, 2008. "The Stock Market, the Market for Corporate Control and the Theory of the Firm: Legal and Economic Perspectives and Implications for Public Policy," ESRC Centre for Business Research - Working Papers wp365, ESRC Centre for Business Research.
- Giuseppe Marcon & Lorenzo Dorigo, 2012. "Stakeholder theory and care management: An inquiry into social enterprises," Working Papers 21, Department of Management, Università Ca' Foscari Venezia.
- Masahiko Aoki, 2007. "Understanding an Emergent Diversity of Corporate Governance and Organizational Architecture: An Essentiality-Based Analysis," Discussion Papers 07-019, Stanford Institute for Economic Policy Research.
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