Governing the firm: workers' control in theory and practice
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge [u.a.]
Cambridge University Press
2003
|
| Edition: | First published |
| Subjects: | |
| Online Access: | Kurzbeschreibung Auszug Inhaltsverzeichnis Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references (p. 291-311) and index |
| Physical Description: | xv, 323 Seiten |
| ISBN: | 9780521818537 9780521522212 |
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MARC
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| 100 | 1 | |a Dow, Gregory K. |d 1954- |e Verfasser |0 (DE-588)130415286 |4 aut | |
| 245 | 1 | 0 | |a Governing the firm |b workers' control in theory and practice |c Gregory K. Dow |
| 250 | |a First published | ||
| 264 | 1 | |a Cambridge [u.a.] |b Cambridge University Press |c 2003 | |
| 300 | |a xv, 323 Seiten | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Includes bibliographical references (p. 291-311) and index | ||
| 650 | 4 | |a Industrial management -- Employee participation | |
| 650 | 4 | |a Employee ownership | |
| 650 | 4 | |a Corporate governance | |
| 650 | 4 | |a Industrial organization (Economic theory) | |
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Record in the Search Index
| _version_ | 1804129288650227712 |
|---|---|
| adam_text | Contents
List of Tables and Figures page x
Preface xi
1 Introduction 1
1.1 Economic Systems 1
1.2 The Control Dimension 4
1.3 Looking for Clues H
1.4 A Projected Synthesis 12
1.5 The Plan of the Book 18
2 Normative Perspectives 23
2.1 Why Care About Workers Control? 23
2.2 Equality 24
2.3 Democracy 27
2.4 Property 32
2.5 Dignity 34
2.6 Community 38
2.7 The Author Shows His Cards 41
3 Workers Control in Action (I) 45
3.1 Surveying the Terrain 45
3.2 The Plywood Cooperatives 5(1
3.3 The Mondragon Cooperatives 57
4 Workers Control in Action (II) 67
4.1 The Lega Cooperatives 67
4.2 Employee Stock Ownership Plans 76
4.3 Codetermination 83
5 Conceptual Foundations 92
5.1 The Theory of the Firm 92
vii
viii Contents
5.2 The Nature of Authority 98
5.3 The Locus of Control 101
5.4 Why Firms Cannot be Owned 107
5.5 Asset Ownership 110
5.6 Residual Claims 114
6 Explanatory Strategies 117
6.1 The Symmetry Principle 117
6.2 The Replication Principle 119
6.3 Transaction Costs 121
6.4 Optimal Contracting 126
6.5 Adverse Selection 129
6.6 Repeated Games 132
6.7 Historical Explanations 135
6.8 Cultural Explanations 138
6.9 The Strategy to be Pursued 140
7 A Question of Objectives 142
7.1 What do LMFs Maximize? 142
7.2 The Illyrian Firm 143
7.3 Membership Markets and Labor Markets 148
7.4 Membership Markets and Stock Markets 152
7.5 Imperfect Membership Markets 156
7.6 What does the Evidence Say? 161
7.7 Some Lessons 163
8 Views from Economic Theory (I) 165
8.1 Explaining the Rarity of Workers Control 165
8.2 Asset Ownership: Incentives and Information 166
8.3 Asset Ownership: Bargaining and Investment 168
8.4 Can Asset Specificity Explain the Rarity of Workers
Control? 172
8.5 Work Incentives without Risk Aversion 173
8.6 Work Incentives with Risk Aversion 178
8.7 Can Work Incentives Explain the Rarity of Workers
Control? 179
9 Views from Economic Theory (II) 185
9.1 Capital Constraints 185
9.2 Debt Financing 186
9.3 Equity Financing 188
9.4 Can Capital Constraints Explain the Rarity of Workers
Control? 189
9.5 Portfolio Diversification 193
9.6 Can Portfolio Diversification Explain the Rarity of
Workers Control? 197
Contents ix
9.7 Collective Choice 200
9.8 Can Collective Choice Explain the Rarity of Workers
Control? 204
10 Transitions and Clusters 207
10.1 Organizational Demography 207
10.2 Formation Rates 207
10.3 Worker Takeovers 212
10.4 Degeneration 221
10.5 Investor Takeovers 224
10.6 Survival Rates 226
10.7 Business Cycles 228
10.8 Clusters 230
11 Toward a Synthesis 234
11.1 The Causal Tapestry 234
11.2 Credible Commitment toward Labor 240
11.3 Credible Commitment toward Capital 245
11.4 The Composition of Control Groups 249
11.5 The Commodification of Control Rights 251
11.6 Intellectual History and Current Debates 253
11.7 Is Workers Control a Unitary Phenomenon? 256
12 Getting There from Here 260
12.1 Practical Considerations 260
12.2 A Modest Proposal 262
12.3 Reassuring Shareholders 273
12.4 Governing Firms 276
12.5 Trading Jobs 279
12.6 Sample Calculations 282
12.7 The Long and Winding Road 287
References 291
Index 313
List of Tables and Figures
Tables
1.1 Ownership and control as independent dimensions of
firm organization page 3
5.1 A classification of governance structures: Unbundled
input supply 111
5.2 A classification of governance structures: Bundled input
supply 113
12.1 Years needed to achieve workers control with dividends
reinvested in purchase of equity shares 284
12.2 Years needed to achieve workers control with dividends
paid out as cash 285
12.3 Steady state employee share ownership with dividends
reinvested and equity claims sold to outsiders on departure 286
Figures
7.1 Income maximization in the Illyrian firm 145
x
|
| any_adam_object | 1 |
| author | Dow, Gregory K. 1954- |
| author_GND | (DE-588)130415286 |
| author_facet | Dow, Gregory K. 1954- |
| author_role | aut |
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| dewey-ones | 338 - Production |
| dewey-raw | 338.6 21 338.6 |
| dewey-search | 338.6 21 338.6 |
| dewey-sort | 3338.6 221 |
| dewey-tens | 330 - Economics |
| discipline | Raumplanung Arbeitswissenschaften Wirtschaftswissenschaften |
| edition | First published |
| format | Book |
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| id | DE-604.BV014438786 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T19:02:46Z |
| institution | BVB |
| isbn | 9780521818537 9780521522212 |
| language | English |
| lccn | 2002023440 |
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| physical | xv, 323 Seiten |
| publishDate | 2003 |
| publishDateSearch | 2003 |
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| publisher | Cambridge University Press |
| record_format | marc |
| spelling | Dow, Gregory K. 1954- Verfasser (DE-588)130415286 aut Governing the firm workers' control in theory and practice Gregory K. Dow First published Cambridge [u.a.] Cambridge University Press 2003 xv, 323 Seiten txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references (p. 291-311) and index Industrial management -- Employee participation Employee ownership Corporate governance Industrial organization (Economic theory) Partizipation (DE-588)4044789-3 gnd rswk-swf Mitarbeiter (DE-588)4120744-0 gnd rswk-swf Mitarbeiter (DE-588)4120744-0 s Partizipation (DE-588)4044789-3 s DE-604 Erscheint auch als Online-Ausgabe, PDF 978-0-511-05506-5 http://www.loc.gov/catdir/description/cam022/2002023440.html Kurzbeschreibung http://www.loc.gov/catdir/samples/cam033/2002023440.html Auszug http://www.loc.gov/catdir/toc/cam025/2002023440.html Inhaltsverzeichnis HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009869325&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Dow, Gregory K. 1954- Governing the firm workers' control in theory and practice Industrial management -- Employee participation Employee ownership Corporate governance Industrial organization (Economic theory) Partizipation (DE-588)4044789-3 gnd Mitarbeiter (DE-588)4120744-0 gnd |
| subject_GND | (DE-588)4044789-3 (DE-588)4120744-0 |
| title | Governing the firm workers' control in theory and practice |
| title_auth | Governing the firm workers' control in theory and practice |
| title_exact_search | Governing the firm workers' control in theory and practice |
| title_full | Governing the firm workers' control in theory and practice Gregory K. Dow |
| title_fullStr | Governing the firm workers' control in theory and practice Gregory K. Dow |
| title_full_unstemmed | Governing the firm workers' control in theory and practice Gregory K. Dow |
| title_short | Governing the firm |
| title_sort | governing the firm workers control in theory and practice |
| title_sub | workers' control in theory and practice |
| topic | Industrial management -- Employee participation Employee ownership Corporate governance Industrial organization (Economic theory) Partizipation (DE-588)4044789-3 gnd Mitarbeiter (DE-588)4120744-0 gnd |
| topic_facet | Industrial management -- Employee participation Employee ownership Corporate governance Industrial organization (Economic theory) Partizipation Mitarbeiter |
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| work_keys_str_mv | AT dowgregoryk governingthefirmworkerscontrolintheoryandpractice |
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