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The corporate governance systems of continental Europe have traditionally been quite different to those of the liberal market economies (e.g. the US and the UK). Company ownership has been dominated by incumbent blockholders, with a relatively minor role for minority shareholders and institutional investors. Business strategy has focused on the achievement of social stability - taking into account the interests of a broad group stakeholders - rather than the maximisation ofshareholder value.However, since the mid-1990s, European corporations have adopted many of the characteristics of the Anglo-American shareholder model. Furthermore, such an increased shareholder-orientation has coincided with a significant role for the Left in European government. This presents a puzzle, as conventional wisdom does not usually conceive of the Left as an enthusiastic proponent of pro-shareholder capitalism. This book provides an analysis of this paradox by examining how economic factors haveinteracted with the policy preferences of political parties to cause a significant change in the European system of corporate governance.This book argues that the post-war support of the European Left for the prevailing blockholder-dominated corporate system depended on the willingness of blockholders to share economic rents with employees, both through higher wages and greater employment stability. However, during the 1990s, product markets became more competitive in many European countries. The sharing of rents between social actors became increasingly difficult to sustain. In such an environment, the Left relinquished itstraditional social partnership with blockholders and embraced many aspects of the shareholder model.This explanation is supported through a panel data econometric analysis of 15 non-liberal market economies. Subsequent case study chapters examine the political economy of recent corporate governance change in Germany and Italy.
Public administration --- Sociology of organization --- Political parties --- Europe --- Corporate governance --- Stockholders --- Competition --- Organizational change --- Gouvernement d'entreprise --- Actionnaires --- Concurrence --- Changement organisationnel --- #SBIB:316.334.2A551 --- #SBIB:35H435 --- Partijen en strategieën in de onderneming: ondernemingsbeleid en management --- Beleidssectoren: economisch en werkgelegenheidsbeleid --- Corporations
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"This book draws together themes in business model developments in relation to business networks and platforms, decentralized business models (DBMs), sometimes referred to as the 'sharing' economy', to systematically analyse the challenges to corporate and organizational law, and governance. DBMS include business networks, the global supply chain, public-private partnerships, the platform economy and blockchain-based enterprises. The law of organizational forms and governance has been slow in responding to changes and reliance has been placed on innovations in contract law to support the business model developments. The authors argue that the law of organisations and governance can respond to changes in the phenomenon of decentralised business models driven by transformative technology and new socio-economic dynamics. They argue that principles underlying the law of organisations and governance, such as corporate governance, are crucial to constituting, facilitating and enabling reciprocality, mutuality, governance and redress in relation to these business models, whose creation of wealth neither fully subscribes to a firm or market system, is neither hierarchical or totally decentralized, and incorporates socio-economic elements that are often enmeshed with incentives and relations. Of interest to academics, policy-makers and legal practitioners, this book offers proposals for new thinking in the law of organization and governance to advance the possibilities of a new socio-economic future"--
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This Liber Amicorum brings together the 20 contributions, in honour of Lutgart Van den Berghe
Gouvernance --- Berghe, L. van den, --- Company law. Associations --- Business policy --- Belgium --- Berghe, L. van den --- Festschriften.
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