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- W3176994734 abstract "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." @default.
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- W3176994734 date "2011-01-01" @default.
- W3176994734 modified "2023-09-25" @default.
- W3176994734 title "Voluntary Co-determination Produces Sustainable Competitive Advantage" @default.
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