Worker Directors: A German Product that Didn't Export?

Despite its lack of attractiveness to other countries, the German system of quasi-parity codetermination at company level has held up remarkably well. We recount the theoretical arguments for and against codetermination and survey the empirical evidence on the effects of the institution, tracing the three phases of a still sparse literature. Recent findings hold out the prospect that good corporate governance might include employee representation by virtue of the monitoring function and the reduction in agency costs, while yet cautioning that the optimal level of representation is likely below parity. And although the German system may be better than its reputation among foreigners, it might have to adapt to globalization and the availability of alternative forms of corporate governance in the EU.codetermination, board-level employee representation, firm performance, Germany

Worker Directors: A German Product that Didn’t Export?

Despite its lack of attractiveness to other countries, the German system of quasi-parity codetermination at company level has held up remarkably well. We recount the theoretical arguments for and against codetermination and survey the empirical evidence on the effects of the institution, tracing the three phases of a still sparse literature. Recent findings hold out the prospect that good corporate governance might include employee representation by virtue of the monitoring function and the reduction in agency costs, while yet cautioning that the optimal level of representation is likely below parity. And although the German system may be better than its reputation among foreigners, it might have to adapt to globalization and the availability of alternative forms of corporate governance in the EU.codetermination, board-level employee representation, firm performance, Germany

Worker directors: a German product that didn't export?

Despite its lack of attractiveness to other countries, the German system of quasiparity codetermination at company level has held up remarkably well. We recount the theoretical arguments for and against codetermination and survey the empirical evidence on the effects of the institution, tracing the three phases of a still sparse literature. Recent findings hold out the prospect that good corporate governance might include employee representation by virtue of the monitoring function and the reduction in agency costs, while yet cautioning that the optimal level of representation is likely below parity. And although the German system may be better than its reputation among foreigners, it might have to adapt to globalization and the availability of alternative forms of corporate governance in the EU. -- Trotz seiner geringen Attraktivität für andere Länder hat sich das deutsche System der quasi-paritätischen Unternehmensmitbestimmung als bemerkenswert stabil erwiesen. Wir erörtern die theoretischen Argumente für und gegen Mitbestimmung und bieten einen Überblick über die empirische Evidenz zu den Auswirkungen dieser Institution, wobei wir drei Phasen einer eher spärlichen Literatur nachzeichnen. Jüngere Erkenntnisse deuten darauf hin, dass zu einer guten Corporate Governance auch die Beteiligung der Arbeitnehmer (aufgrund ihrer Überwachungsfunktion und der Verringerung von Agency-Kosten) gehören könnte, wobei jedoch das optimale Ausmaß der Mitbestimmung unter 50 Prozent liegen dürfte. Auch wenn das deutsche System besser sein mag als sein Ruf im Ausland, muss es sich wohl an die Globalisierung und die Verfügbarkeit alternativer Unternehmensformen in der EU anpassen.codetermination,worker directors,board-level employee representation,firm performance,Germany

Worker Directors: A German Product that Didn’t Export?

Despite its seeming lack of attractiveness to other countries, the German system of quasi-parity codetermination at company level has thus far held up fairly well. We recount the theoretical arguments for and against this form of codetermination, and survey the evolving empirical evidence as to its economic impact. Even if theory and the more recent empirical findings hold out the prospect that the apparatus of good corporate governance might include employee representation on company boards, caveats attach to the extent of representation and the composition of the worker side. But even if the entity has performed better than its external reputation might indicate, it is clearly in the process of adapting to change. In particular, the availability of alternative forms of corporate governance will increasingly shape the German institution.codetermination, worker directors, board-level employee representation, firm performance, legal arbitrage, Germany

Servant Leadership and Its Impact on Ethical Climate

Many leaders in intercollegiate athletics are under attack due to an overemphasis on winning and revenue generation. In response, some have recommended a transition to a servant leadership approach because of its focus on the well-being of followers and ethical behaviors (Burton & Welty Peachey, 2013; Welty Peachey, Zhou, Damon, & Burton, 2015). The purpose of this study was to examine athletic directors’ potential demonstration of servant leadership and possible contribution to an ethical climate in NCAA Division III institutions. Participants were 326 athletic staff members from NCAA Division III institutions. Results indicated athletic staff members believed athletic directors displayed characteristics of servant leadership. Athletic department employees perceived athletic directors exhibited servant leadership characteristics of accountability, standing back, stewardship, authenticity, humility, and empowerment most often. Staff members who perceived athletic directors displayed servant leadership characteristics were more likely to report working in an ethical climate. If athletic directors choose to model the characteristics of servant leaders, they could promote more fully the NCAA Division III philosophy of prioritizing the well-being of others, being a positive role model for employees, and fostering ethical work climates within their athletic departments

An evaluation of the stimulants and impediments to innovation within PFI/PPP projects

This paper identifies the theoretical stimulants and impediments associated with the implementation of PFI/PPP (Private Finance Initiative/Public Private Partnership) projects. A current defect of this procurement approach is the unintentional constraint upon the innovations incorporated into the development of PFI projects. A critical evaluation of the published literature has been utilized to synthesize a theoretical model. The paper proposes a theoretical model for the identification of potential innovation stimulants and impediments within this type of procurement. This theoretical model is then utilised to evaluate four previously completed PFI projects. These project case-studies have been examined in detail. The evaluation demonstrates how ineffective current procedures are. The application of this model before project letting could eliminate unintentional constraints and stimulate improved innovation within the process. The implementation of the model could improve the successful delivery of innovation within the entire PFI/PPP procurement process

Interpretive Freedom: A Necessary Component of Article III Judging

As judges have debated the best method of constitutional and statutory interpretation, scholars have begun calling for increased constraints on the methodological freedoms of Article III judges. This Note rejects such proposals on constitutional grounds. Drawing upon the jurisprudence and scholarship on inherent powers, I argue that interpretive choice is an inherent judicial power. The drafting and ratification history of Article III demonstrates that the Framers expected federal judges to interpret the law. To accomplish this task, however, judges must have some methodological approach to help them prioritize interpretive evidence. Thus, imposition of a binding interpretive methodology upon federal judges would pose two constitutional problems. First, it would infringe the essential judicial function of interpretive deliberation. Second, it would prevent the judiciary as a whole from engaging in its most powerful constitutional check on the excesses of the political branches. Because interpretive freedom is necessary to the fulfillment of the Article III judicial function, that freedom must be considered an inherent power vested in all federal judges