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Contemporary Projections of the Participation of the Personnel in the Ownership, Management and Financial Results of the Enterprises


  • Pavlinka Ileva-Naidenova
  • Spartak Keremidchiev


The paper outlines the system connections of the participation of the personnel with the theory of corporate governance. It creates a base for applying the instruments of this theory in analytical and empirical studies in this area. It generalizes the results of actual international studies and determines the different forms of participation in the EU member countries. The study compares the differences in determining the forms of participation in the old and new EU member countries. It forms the reasons for the failure of the attempts for introducing the elements of the workers’ self-management in the administrative system in Bulgaria. The paper identifies the first attempts for establishing forms of participation of the personnel in private Bulgarian enterprises. It determines the directions of development of these forms and makes suggestions for improving the policy.

Suggested Citation

  • Pavlinka Ileva-Naidenova & Spartak Keremidchiev, 2012. "Contemporary Projections of the Participation of the Personnel in the Ownership, Management and Financial Results of the Enterprises," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 126-170.
  • Handle: RePEc:bas:econst:y:2012:i:1:p:126-170

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    References listed on IDEAS

    1. Raghuram G. Rajan & Luigi Zingales, 1998. "Power in a Theory of the Firm," The Quarterly Journal of Economics, Oxford University Press, vol. 113(2), pages 387-432.
    2. Luigi Zingales, 1997. "Corporate Governance," NBER Working Papers 6309, National Bureau of Economic Research, Inc.
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    JEL classification:

    • J54 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Producer Cooperatives; Labor Managed Firms
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General


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