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Partnership, Ownership and Control: The Impact of Corporate Governance on Employment Relations

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  • S. Deakin
  • R. Hobbs
  • S. Konzelmann
  • F. Wilkinson
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    Abstract

    Most large UK private-sector organisations are listed companies that are subject to intense pressures to enhance shareholder value. The question arises of whether this constrains the ability of UK managers to pursue genuine partnership arrangements with long-term stakeholders, including employees. Empirical evidence is presented in the form of case studies of partnership relations between labour and management since the mid-1990s in companies operating under different forms of ownership. While some companies have been able to reconcile shareholder demands with a 'partnership' approach, in other cases, shareholder pressure has undermined partnership relations of the kind which have endured under more concentrated forms of ownership. Where the corporate governance system can be seen to support partnership, it is in conjunction with market regulation underpinning quality standards, relative stability in product markets, and a willingness on the part of senior management to mediate between the claims of different stakeholder groups.

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    File URL: http://www.cbr.cam.ac.uk/pdf/WP200.pdf
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    Bibliographic Info

    Paper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp200.

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    Date of creation: Jun 2001
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    Handle: RePEc:cbr:cbrwps:wp200

    Note: PRO-2
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    Web page: http://www.cbr.cam.ac.uk/

    Related research

    Keywords: corporate governance; industrial partnership; stakeholding; co-operation;

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    References

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    1. Sue Konzelmann & Robert Forrant, 2000. "Creative Work Systems in Destructive Markets," ESRC Centre for Business Research - Working Papers wp187, ESRC Centre for Business Research.
    2. Fama, Eugene F & Jensen, Michael C, 1983. "Agency Problems and Residual Claims," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 327-49, June.
    3. Colin Mayer, 1996. "Corporate Governance, Competition and Performance," OECD Economics Department Working Papers 164, OECD Publishing.
    4. Wilkinson, Frank, 1983. "Productive Systems," Cambridge Journal of Economics, Oxford University Press, vol. 7(3-4), pages 413-29, September.
    5. Franks, Julian & Mayer, Colin, 1996. "Hostile takeovers and the correction of managerial failure," Journal of Financial Economics, Elsevier, vol. 40(1), pages 163-181, January.
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    Cited by:
    1. Christel Lane, 2003. "Changes in corporate governance of German corporations: convergence to the Anglo-American model?," ESRC Centre for Business Research - Working Papers wp259, ESRC Centre for Business Research.
    2. Hilary Bates & Nick Oliver & Matthias Holweg & Michael Lewis, 2004. "Motor vehicle recalls: trends, patterns and emerging issues," ESRC Centre for Business Research - Working Papers wp295, ESRC Centre for Business Research.

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