Employee Ownership in the European Company: Reflexive Law, Reincorporation and Escaping Codetermination
Journal of Corporate Law Studies, Forthcoming
49 Pages Posted: 4 Nov 2010 Last revised: 23 Jul 2011
Date Written: November 3, 2010
This article assesses the effects of reincorporation on codetermination, focusing on the scope for escaping codetermination by restructuring under the European Company (SE). This is usually associated with the prospect of corporate flight from codetermined jurisdictions. The article presents an alternative possibility, arguing that because the self-regulatory framework of employee participation in the SE encourages diversity and experimentation it does not inevitably erode the institution of codetermination. Viewed within a framework of reflexive harmonisation the effects on codetermination are better understood as part of an open-ended process of evolution in the ownership and control structures of the firm. This points to the potential for codetermination to become more, rather than less, integrated as part of the ownership landscape of European firms.
Keywords: employee participation, reincorporation, codetermination, European company, reflexive law, evolution, ownership and control
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