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Employee Governance and the Ownership of the firm

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  • Boatright, John R.

Abstract

Employee governance, which includes employee ownership and employee participation in decision making, is regarded by many as morally preferable to control of corporations by shareholders. However, employee governance is rare in advanced market economies due to its relative inefficiency compared with shareholder governance. Given this inefficiency, should employee governance be given up as an impractical ideal? This article contends that the debate over this question is hampered by an inadequate conception of employee governance that fails to take into account the difference between employees and shareholders. It offers a different, more adequate conception of employee governance that recognizes a sense in which employees currently have some ownership rights. The argument for this conception of employee governance is built on an expanded understanding of the ownership of a firm. The article also suggests new strategies for strengthening the role of employees in corporate governance.

Suggested Citation

  • Boatright, John R., 2004. "Employee Governance and the Ownership of the firm," Business Ethics Quarterly, Cambridge University Press, vol. 14(1), pages 1-21, January.
    • Handle: RePEc:cup:buetqu:v:14:y:2004:i:01:p:1-21_00
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    Citations

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    Cited by:

    1. J. (Hans) van Oosterhout, 2007. "Authority and Democracy in Corporate Governance?," Journal of Business Ethics, Springer, vol. 71(4), pages 359-370, April.
    2. Wu, Fang & Cao, June & Zhang, Xiaosan, 2023. "Do non-executive employees matter in curbing corporate financial fraud?," Journal of Business Research, Elsevier, vol. 163(C).
    3. Naz Sayari & Bill Marcum, 2022. "Board systems, employee representation, and neo‐institutional theory: The moderating effect of economic freedom on corporate boards and financial performance," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 3931-3952, December.
    4. Bremer, Diedrich & Lüdtke, Jan-Philipp & Richter, Ansgar & Schäfer, Utz, 2009. "Who disciples the CFO? An assessment of stakeholder power in corporate governance," MPRA Paper 15782, University Library of Munich, Germany.
    5. Anselm Schneider & Andreas Scherer, 2015. "Corporate Governance in a Risk Society," Journal of Business Ethics, Springer, vol. 126(2), pages 309-323, January.
    6. Calus, Mieke & Van Huylenbroeck, Guido, 2005. "Attitude of Flemish Farmers Towards Alternative Business Governance Structures," 94th Seminar, April 9-10, 2005, Ashford, UK 24425, European Association of Agricultural Economists.
    7. Waheed Hussain & Jeffrey Moriarty, 2018. "Accountable to Whom? Rethinking the Role of Corporations in Political CSR," Journal of Business Ethics, Springer, vol. 149(3), pages 519-534, May.
    8. Brink, Alexander, 2011. "Spezifische Investitionen als Legitimationsgrundlage für Stakeholderansprüche," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 65(1), pages 50-68.
    9. Ignacio Ferrero & W. Michael Hoffman & Robert E. McNulty, 2012. "Must Milton Friedman Embrace Stakeholder Theory?," Faculty Working Papers 10/12, School of Economics and Business Administration, University of Navarra.
    10. Alexander Brink, 2010. "Enlightened Corporate Governance: Specific Investments by Employees as Legitimation for Residual Claims," Journal of Business Ethics, Springer, vol. 93(4), pages 641-651, June.
    11. Dongmin Kong & Jia Liu & Yanan Wang & Ling Zhu, 2024. "Employee Stock Ownership Plans and Corporate Environmental Engagement," Journal of Business Ethics, Springer, vol. 189(1), pages 177-199, January.
    12. Sandrine Blanc, 2014. "Expanding Workers’ ‘Moral Space’: A Liberal Critique of Corporate Capitalism," Journal of Business Ethics, Springer, vol. 120(4), pages 473-488, April.

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