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La gouvernance salariale: contribution de la représentation des salariés à la gouvernance d'entreprise

Author

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  • Xavier Hollandts

    (Kedge Business School [Talence], CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA [2017-2020] - Université Clermont Auvergne [2017-2020])

  • Nicolas Aubert

    (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon, AMU IAE - Institut d'Administration des Entreprises (IAE) - Aix-en-Provence - AMU - Aix Marseille Université)

Abstract

Employees' participation in corporate governance is the subject of a recurring debate. The cons stress the potential weakening of the board's supervisory function while the pros argue that board level employee representation reduces information asymmetry. This paper presents a comprehensive and critical literature review. It discusses the conditions of the implementation of board employee representation improving corporate governance. We suggest that their mandates are determined by three sets of factors: individual factors, micro level corporate governance factors, and macro level factors related to the national governance system. We state theoretical propositions defining board employee representation's contributions.

Suggested Citation

  • Xavier Hollandts & Nicolas Aubert, 2019. "La gouvernance salariale: contribution de la représentation des salariés à la gouvernance d'entreprise," Post-Print hal-01989060, HAL.
    • Handle: RePEc:hal:journl:hal-01989060
    DOI: 10.4000/fcs.3256
    Note: View the original document on HAL open archive server: https://hal.science/hal-01989060v1
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    References listed on IDEAS

    as
    1. Aubert, Nicolas & Garnotel, Guillaume & Lapied, André & Rousseau, Patrick, 2014. "Employee ownership: A theoretical and empirical investigation of management entrenchment vs. reward management," Economic Modelling, Elsevier, vol. 40(C), pages 423-434.
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    8. Sandra Cavaco & Edouard Challe & Patricia Crifo & Antoine Rebérioux & Gwenaël Roudaut, 2016. "Board independence and operating performance: analysis on (French) company and individual data," Applied Economics, Taylor & Francis Journals, vol. 48(52), pages 5093-5105, November.
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    12. Cavaco, Sandra & Crifo, Patricia & Rebérioux, Antoine & Roudaut, Gwenael, 2017. "Independent directors: Less informed but better selected than affiliated board members?," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 106-121.
    13. Kerstin Lopatta & Katarina Böttcher & Reemda Jaeschke, 2018. "When labor representatives join supervisory boards: empirical evidence of the relationship between the change to parity codetermination and working capital and operating cash flows," Journal of Business Economics, Springer, vol. 88(1), pages 1-39, January.
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    22. Jensen, Michael C & Meckling, William H, 1979. "Rights and Production Functions: An Application to Labor-managed Firms and Codetermination," The Journal of Business, University of Chicago Press, vol. 52(4), pages 469-506, October.
    23. Pierre-Yves Gomez & Peter Wirtz, 2018. "Successfully mobilizing for employee board representation," Post-Print hal-01811784, HAL.
    24. Steen Thomsen & Caspar Rose & Dorte Kronborg, 2016. "Employee representation and board size in the Nordic countries," European Journal of Law and Economics, Springer, vol. 42(3), pages 471-490, December.
    25. Shad S. Morris & Sharon A. Alvarez & Jay B. Barney & Janice C. Molloy, 2017. "Firm-specific human capital investments as a signal of general value: Revisiting assumptions about human capital and how it is managed," Strategic Management Journal, Wiley Blackwell, vol. 38(4), pages 912-919, April.
    26. Michel Albouy & Gérard Charreaux, 2017. "Les grands auteurs en finance," Post-Print hal-01621326, HAL.
    27. Gérard Charreaux, 2002. "Variation sur le thème:"À la recherche de nouvelles fondations pour la finance et la gouvernance d'entreprise"," Revue Finance Contrôle Stratégie, revues.org, vol. 5(3), pages 5-68, September.
    28. M. Albouy, 2009. "Le dirigeant et l'administrateur-salarié face à la finance," Post-Print halshs-00544189, HAL.
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    30. Belot, François & Ginglinger, Edith & Slovin, Myron B. & Sushka, Marie E., 2014. "Freedom of choice between unitary and two-tier boards: An empirical analysis," Journal of Financial Economics, Elsevier, vol. 112(3), pages 364-385.
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    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Anne Stévenot, 2023. "La réforme de l’entreprise. Un modèle français de codétermination, de Nicolas Aubert et Xavier Hollandts (préface d’Olivier Favereau)," Post-Print hal-04227841, HAL.
    2. Nicolas Aubert & Xavier Hollandts, 2021. "Les administrateurs salariés : levier du dialogue social au coeur de la gouvernance des entreprises," Post-Print hal-03427215, HAL.
    3. Nicolas Aubert & Philippe Bernheim, 2021. "What the PACTE law changes for employee savings and participation?," Post-Print hal-02532708, HAL.

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    More about this item

    Keywords

    board-level employee representation; gouvernance d’entreprise; représentation des salariés aux conseils; corporate governance;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • J54 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Producer Cooperatives; Labor Managed Firms
    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management

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