{"title":"Avoidance Strategies and the German System of Co-Determination","authors":"T. Royle","doi":"10.1080/095851998340739","DOIUrl":"https://doi.org/10.1080/095851998340739","url":null,"abstract":"This paper is based on a comparative study of the UK and German operations of the McDonald’s Corporation. The main focus of the paper is the interaction between multinational enterprises (MNEs) and the German system of co-determination. Commentators have suggested that industrial relations practices in host countries are particularly difficult for MNE’s to avoid because they are so deeply embedded in societal frameworks. However, there are also opposing global pressures for MNEs to impose their industrial relations practices across national borders in order to transmit ‘best practice’ to their subsidiaries. Ferner and Edwards (1995) suggest that Germany is something of a ‘test case’ for MNEs because of the strength of its legislative underpinning and institutional arrangements. Most analysis on the German system of co-determination has suggested that it is only small and medium-sized firms which avoid or undermine the German system (Lane, 1989). However, evidence brought together in this study suggests that along with other large companies and MNEs of different origins and across different industries, McDonald’s have been able to take advantage of weaknesses in regulation in the German system of co-determination. The paper puts forward a typology of possible ‘avoidance strategies’ within the German system.","PeriodicalId":304214,"journal":{"name":"INTL: MNE Functions (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129813804","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Lessons from the Rapid Evolution of Executive Remuneration Practices in Australia: Hard Law, Soft Law, Boards and Consultants","authors":"Randall S. Thomas","doi":"10.4337/9781781005101.00026","DOIUrl":"https://doi.org/10.4337/9781781005101.00026","url":null,"abstract":"This chapter for the Research Handbook on Executive Pay, a forthcoming book on executive compensation to be published by Edgar Elgar Publishing, gives a dynamic overview of the key Australian corporate governance and legal rules that impact on executive remuneration practices at publicly-traded Australian corporations. It has a special focus on the role of compensation consultants and their current practices using interview data collected by the author. By documenting the current system and its rapid evolution in the past several years, it hopes to offer some insights into where pay practices in the U.S. may be going in the future and why.","PeriodicalId":304214,"journal":{"name":"INTL: MNE Functions (Topic)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125025318","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Italian Firms between Crisis and the New Globalization","authors":"Antonio Accetturo, A. Giunta, S. Rossi","doi":"10.2139/SSRN.1849865","DOIUrl":"https://doi.org/10.2139/SSRN.1849865","url":null,"abstract":"This paper analyzes the characteristics of Italian firms involved in global value chains (i?½intermediatei?½ firms) by using the Bank of Italy survey on industrial companies. Intermediate firms show, on average, worse features than i?½finali?½ firms: smaller size, lower share of white collars, lower productivity and export propensity. However we observe a strong heterogeneity, depending on the ability (and modalities) to upgrade along the value chains. There are wide differences between upgrading and non-upgrading (marginal) intermediate firms in terms of size, efficiency, human capital endowment and international competitiveness. During the 2008-09 crisis, marginal intermediate firms performed definitely worse; moreover, facing a collapse in world trade, firms that were upgrading by expanding their international linkages were more severely hit than those that were differentiating their internal functions.","PeriodicalId":304214,"journal":{"name":"INTL: MNE Functions (Topic)","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-01-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126510631","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of Board Diversity on Boards' Monitoring Intensity and Firm Performance: Evidence from the Istanbul Stock Exchange","authors":"Melsa Ararat, M. Aksu, Ayse Tansel Cetin","doi":"10.2139/ssrn.1572283","DOIUrl":"https://doi.org/10.2139/ssrn.1572283","url":null,"abstract":"The main objective of this paper is to investigate the impact of board diversity on the financial performance of the ISE-100 index firms traded in the Istanbul Stock Exchange (ISE). We use gender and generation differences as observable attributes and directors’ educational and nationality backgrounds as proxies of non-observable attributes of values, beliefs, skills and competencies. We combine these different diversity indicators with \"independence\" through a diversity index, to account for the critical mass of diverse opinions needed for critical inquiry. We use market-to-book ratio and Tobin’s Q as our market based and return on equity as our accounting based measures of performance. Second, to understand the process by which board diversity affects firm performance, we focus on the relationship between board diversity and the board’s monitoring intensity, on the one hand, and monitoring intensity and firm performance, on the other. We define a board’s monitoring intensity as a composite mediating variable consisting of the number of board meetings, the number of board committees, auditing and financial reporting quality of the firm and its disclosure intensity. We find a positive relationship between board diversity and performance and board diversity and board monitoring intensity. Furthermore, not only does monitoring intensity impact performance, but it also decreases the explanatory power of most of our board diversity measures when it enters the model in the diversity-performance estimations. Overall, our results suggest that diverse boards are better monitors, mitigating agency conflict and enhancing firm performance. We expect that the findings would be of interest for researchers, investors, shareholders, boards, and regulators.","PeriodicalId":304214,"journal":{"name":"INTL: MNE Functions (Topic)","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132847376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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