Employee Ownership in the European Company: Reflexive Law, Reincorporation and Escaping Codetermination

W. Njoya

Working Papers from Centre for Business Research, University of Cambridge

Abstract: This article assesses the effects of reincorporation on codetermination, focusing on the scope for escaping codetermination by restructuring under the European Company (SE). This is usually associated with the prospect of corporate flight from codetermined jurisdictions. The article presents an alternative possibility, arguing that because the self-regulatory framework of employee participation in the SE encourages diversity and experimentation, it does not inevitably erode the institution of codetermination. Viewed within a framework of reflexive harmonization, the effects on codetermination are better understood as part of an open-ended process of evolution in the ownership and control structures of the firm. This points to the potential for codetermination to become more, rather than less, integrated as part of the ownership landscape of European firms.

Keywords: employee participation; reincorporation; codetermination; European company; reflexive law; evolution; ownership and control (search for similar items in EconPapers)
JEL-codes: G34 K22 (search for similar items in EconPapers)
Date: 2010-12
Note: PRO-2
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