2005, English, Article, Working paper edition: When labor has a voice in corporate governance [electronic resource] / Olubunmi Faleye, Vikas Mehrotra, Randall Morck. Faleye, Olubunmi.

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Bookmark: https://trove.nla.gov.au/version/37037741
Published
  • Cambridge, MA : National Bureau of Economic Research, c2005.
Language
  • English

Edition details

Title
  • When labor has a voice in corporate governance /​ Olubunmi Faleye, Vikas Mehrotra, Randall Morck.
Author
  • Faleye, Olubunmi.
Other Authors
  • Morck, Randall.
  • Mehrotra, Vikas C., 1963-
  • National Bureau of Economic Research
Published
  • Cambridge, MA : National Bureau of Economic Research, c2005.
Medium
  • [electronic resource]
Series
Subjects
Summary
  • "Equity ownership gives labor both a fractional stake in the firm's residual cash flows and a voice in corporate governance. Relative to other firms, labor-controlled publicly-traded firms deviate more from value maximization, invest less in long-term assets, take fewer risks, grow more slowly, create fewer new jobs, and exhibit lower labor and total factor productivity. We therefore propose that labor uses its corporate governance voice to maximize the combined value of its contractual and residual claims, and that this often pushes corporate policies away from, rather than towards, shareholder value maximization"--National Bureau of Economic Research web site.
Notes
  • Title from PDF file as viewed on 4/​7/​2005.
  • Includes bibliographical references.
  • Also available in print.
Technical Details
  • System requirements: Adobe Acrobat Reader.
  • Mode of access: World Wide Web.
Language
  • English
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Libraries Australia

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