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Dynamic Efficiency of Supervisory Board Codetermination in Germany

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Author Info
Simon Renaud

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Abstract

The aim of this paper is to consider the implications of structural changes, e.g. changing skill composition of the labour force, on the economic advantages and disadvantages of supervisory board codetermination in Germany. Theoretical considerations and an overview of the empirical literature on supervisory board codetermination are given in the first section of the paper. The second section deals with the empirical evidence of the theoretical effects. The basic idea is to compare the long-term differences in productivity and profitability of companies with quasi-parity codetermination to companies that are only obliged to give one-third of their supervisory board seats to labour representatives. Interestingly, the switch from one-third to parity codetermination seems to increase both productivity and profits. In the longer term, the productivity effect does not seem to change, whereas the profit effect shows an improving path. Copyright 2007 The Author. Journal compilation CEIS, Fondazione Giacomo Brodolini and Blackwell Publishing Ltd. 2007.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-9914.2007.00387.x
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Publisher Info
Article provided by CEIS, Fondazione Giacomo Brodolini and Blackwell Publishing Ltd in its journal LABOUR.

Volume (Year): 21 (2007)
Issue (Month): 4-5 (December)
Pages: 689-712
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Handle: RePEc:bla:labour:v:21:y:2007:i:4-5:p:689-712

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1121-7081

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  1. Wagner, Joachim, 2009. "One-third Codetermination at Company Supervisory Boards and Firm Performance in German Manufacturing Industries: First Direct Evidence from a New Type of Enterprise Data," IZA Discussion Papers 4352, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  2. Sebastian Troch, 2009. "Drittelbeteiligung im Aufsichtsrat - Gesetzliche Regelung versus Unternehmenspraxis Ausmaß und Bestimmungsgründe der Umgehung des Drittelbeteiligungsgesetzes in Industrieunternehmen," Working Paper Series in Economics 128, University of Lüneburg, Institute of Economics. [Downloadable!]
  3. Marc Goergen & Miguel Manjon & Luc Renneboog, 2008. "Is the German system of corporate governance converging towards the Anglo-American model?," Journal of Management and Governance, Springer, vol. 12(1), pages 37-71, March. [Downloadable!] (restricted)
  4. Anke Hammen, 2008. "Fachliche Zusammensetzung von Bildungsportfolios: Empirische Analyse eines Risk-Return Trade-Offs," Discussion Papers 200802, Institute of Labour Law and Industrial Relations in the European Community (IAAEG). [Downloadable!]
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