Employees

Managers, Workers, and Corporate Control

If management has high private benefits and a small equity stake, managers and workers are natural allies against takeover threats. Two forces are at...

Exit vs. Voice

We study the relative effectiveness of exit (divestment and boycott) and voice (engagement) strategies in promoting socially desirable outcomes in...

Labor Representation in Governance as an Insurance Mechanism

We hypothesize that labor participation in governance helps improve risk sharing between employees and employers. It provides an ex-post mechanism to...

Personal and Organizational Higher Purpose, Corporate Governance and Shareholder Value: Survey Results

This paper reports the findings of a recent survey of 1019 individuals to learn about their commitment to and perceived value from personal and...

Efficiency Arguments for the Collective Representation of Workers: A Sketch

The dominant agency-cost paradigm for the analysis of corporate law is based on the proposition that the welfare of society is best met by rules which...

The Additional Costs of CEO Compensation: The Effect of Relative Wealth Concerns of Employees

Do employees who compare themselves to the CEO matter for executive compensation? We hypothesize that employees have relative wealth concerns and...

Private Equity Takeovers and Employment in the UK: some Empirical Evidence

This study investigates the employment consequences of private equity acquisitions, in particular institutional buy-outs (IBOs), in the UK. It...

Corporate Financial Frictions and Employee Mental Health

This paper argues that corporate financial frictions can have an adverse effect on employee mental health, an important determinant of employee...

Employee Participation in Corporate Governance and Corporate Social Responsibility

The chapter investigates the impact of employee participation on the board of directors or supervisory board (particularly codetermination) on...

Talent Discovery and Poaching under Asymmetric Information

We develop a model of the market for knowledge workers in which talent is discovered on the job. In the model, asymmetric information and firm-specific...

Economics of the Stakeholders' Firm

Employment and Wage Insurance within Firms: Worldwide Evidence

If unemployment insurance is more generous, workers should demand less implicit insurance from their employers: firm- and government-provided...