Speaker: Dr Andreas Kokkinis (University of Warwick)
In this seminar, Dr Kokkinis will revisit the theory of firm ownership to examine the potential economic benefits of employee participation in corporate governance. Contrary to the standard corporate contractarian claim that employee participation is inefficient, because it does not arise frequently as a result of market forces, he will demonstrate that the supposed superiority of the current Anglo-American system cannot be logically deduced. Some level of employee participation can be optimal for some firms, and available evidence indicates that participation brings advantages in terms of productivity. To understand the nature of these advantages and the best way to design a legal framework for participation, Dr Kokkinis will conduct a case study of the German system of codetermination. Taking into account the peculiarities of the UK economy and corporate governance system, he will argue that employee board representation is likely to bring positive economic outcomes. This, however, presupposes broad acceptance of participation by business managers and institutional investors, as well as employees.
3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners. For more information on past events including recordings, please refer to the Centre activities page.
For all seminars in B16, lunch will be available beforehand in the Basement atrium area. There is no charge for lunch or to attend the seminar.
Enquiries to: 3cl@law.cam.ac.uk
