Employee Voice in Corporate Governance: A Defense of Strong Participation Rights

Abstract

Abstract:This article surveys arguments for the claim that employees have a right to strong forms of decision-making participation. It considers objections to employee participation based on shareholders’ property rights and it claims that those objections are flawed. In particular, it argues the employee participation rights are grounded on the same values as are property rights. The article suggests that the conflict between these two competing rights claims is best resolved by limiting the scope of corporate property rights and by recognizing a strong employee right to co-determine corporate decisions.