Business Ownership by Workers: Are Worker Cooperatives a Viable Option?

One possible strategy for both succession and new business development is employee ownership.� New business formation as an employee-owned firm or cooperative may have some advantages over formation as a sole proprietorship or partnership: pooling financial resources, spreading risk and combining the various knowledge and skills of the members involved. In the case of business succession, selling to employees provides a tax benefit to the owners and increases the probability that the business will continue to exist in its current location, benefitting both the employees themselves and the local community. While worker cooperatives (or employee-owned cooperatives) are currently rare in the United States, successful examples exist, suggesting potential for future development of this type of organization. This paper reviews the literature on worker cooperatives and presents data on the extent and nature of worker cooperatives in the United States. It concludes with a discussion of the implications for employee-owned cooperative development in Iowa and provides suggestions for future research and outreach programming on this topic.

Employee Ownership And Corporate Governance: Evidence From The French Market

This paper's objective is to study the issue of employee ownership in the context of corporate governance. We show first that the literature is controversial on the role that employees-shareholders may play in the corporate governance system and consequently in value creation. In a second step, we empirically analyse the performance of a sample of companies from the index SBF 250. Our results show a negative relationship between the presence of employee shareholders in the control bodies (board of director or board of trustees) and financial performance indicators

Business ownership by workers: are worker cooperatives a viable option?

One possible strategy for both succession and new business development is employee ownership. New business formation as an employee-owned firm or cooperative may have some advantages over formation as a sole proprietorship or partnership: pooling financial resources, spreading risk and combining the various knowledge and skills of the members involved. In the case of business succession, selling to employees provides a tax benefit to the owners and increases the probability that the business will continue to exist in its current location, benefitting both the employees themselves and the local community. While worker cooperatives (or employee-owned cooperatives) are currently rare in the United States, successful examples exist, suggesting potential for future development of this type of organization. This paper reviews the literature on worker cooperatives and presents data on the extent and nature of worker cooperatives in the United States. It concludes with a discussion of the implications for employee-owned cooperative development in Iowa and provides suggestions for future research and outreach programming on this topic

Theorem proving support in programming language semantics

We describe several views of the semantics of a simple programming language as formal documents in the calculus of inductive constructions that can be verified by the Coq proof system. Covered aspects are natural semantics, denotational semantics, axiomatic semantics, and abstract interpretation. Descriptions as recursive functions are also provided whenever suitable, thus yielding a a verification condition generator and a static analyser that can be run inside the theorem prover for use in reflective proofs. Extraction of an interpreter from the denotational semantics is also described. All different aspects are formally proved sound with respect to the natural semantics specification.Comment: Propos\'e pour publication dans l'ouvrage \`a la m\'emoire de Gilles Kah

A Survey of Symbolic Methods in Computational Analysis of Cryptographic Systems

Since the 1980s, two approaches have been developed for analyzing security protocols. One of the approaches relies on a computational model that considers issues of complexity and probability. This approach captures a strong notion of security, guaranteed against all probabilistic polynomial-time attacks. The other approach relies on a symbolic model of protocol executions in which cryptographic primitives are treated as black boxes. Since the seminal work of Dolev and Yao, it has been realized that this latter approach enables significantly simpler and often automated proofs. However, the guarantees that it offers have been quite unclear. For more than twenty years the two approaches have coexisted but evolved mostly independently. Recently, significant research efforts attempt to develop paradigms for cryptographic systems analysis that combines the best of both worlds. There are two broad directions that have been followed. {\em Computational soundness} aims to establish sufficient conditions under which results obtained using symbolic models imply security under computational models. The {\em direct approach} aims to apply the principles and the techniques developed in the context of symbolic models directly to computational ones. In this paper we survey existing results along both of these directions. Our goal is to provide a rather complete summary that could act as a quick reference for researchers who want to contribute to the field, want to make use of existing results, or just want to get a better picture of what results already exist

Introduction to the Literature on Semantics

An introduction to the literature on semantics. Included are pointers to the literature on axiomatic semantics, denotational semantics, operational semantics, and type theory

On Safe Folding

In [3] a general fold operation has been introduced for definite programs wrt computed answer substitution semantics. It differs from the fold operation defined by Tamaki and Sato in [26,25] because its application does not depend on the transformation history. This paper extends the results in [3] by giving a more powerful sufficient condition for the preservation of computed answer substitutions. Such a condition is meant to deal with the critical case when the atom introduced by folding depends on the clause to which the fold applies. The condition compares the dependency degree between the fonding atom and the folded clause, with the semantic delay between the folding atom and the ones to be folded. The result is also extended to a more general replacement operation, by showing that it can be decomposed into a sequence of definition, general folding and unfolding operations

Transforming Normal Programs by Replacement

The replacement transformation operation, already defined in [28], is studied wrt normal programs. We give applicability conditions able to ensure the correctness of the operation wrt Fitting's and Kunen's semantics. We show how replacement can mimic other transformation operations such as thinning, fattening and folding, thus producing applicability conditions for them too. Furthermore we characterize a transformation sequence for which the preservation of Fitting's and Kunen's semantics is ensured