Permanent URL to this publication: http://dx.doi.org/10.5167/uzh-44834
Osterloh, Margit; Frey, Bruno S; Zeitoun, Hossam (2010). Voluntary co-determination produces sustainable competitive advantage. In: Sacconi, Lorenzo; Blair, Margaret M; Freeman, Edward; Vercelli, Alessandro. Corporate Social Responsibility and Corporate Governance: The Contribution of Economic Theory and Related Disciplines. England, 332-352. ISBN 978-0-230-23654-7.
The importance of firm-specific knowledge for a company’s sustainable competitive advantage is well established in the knowledge-based theory of the firm. However, the impact of corporate governance design on firm-specific knowledge investments is underexplored. We assess existing co-determination systems in Europe and their impact on firm performance; then we discuss voluntary co-determination as a new corporate governance design that fosters firm-specific knowledge investments, intrinsic work motivation, efficient monitoring, and board diversity while lowering transaction costs. Our analysis indicates that shareholders can increase their company’s value by adopting customized co-determination rules.
|Item Type:||Book Section, not refereed, original work|
|Communities & Collections:||03 Faculty of Economics > Department of Economics
03 Faculty of Economics > Department of Business Administration
|Deposited On:||11 Feb 2011 09:45|
|Last Modified:||27 Nov 2013 21:27|
|Series Name:||IEA Series|
|Related URLs:||https://biblio.unizh.ch/F/?local_base=UZH01&con_lng=GER&func=find-b&find_code=SYS&request=001943145 (Organisation)|
|Citations:||Web of Science®|
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