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- handle: 10670/1.y9cd1m
- halshs: halshs-04331377
- doi: 10.1177/00323292231163700
- WOS: 000974929200001
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info:eu-repo/semantics/altIdentifier/doi/10.1177/00323292231163700
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Workplace climate Workplace Working conditions, Physical Working environment Climate, Workplace Worksite environment Environment, Work Workplace environment Work places Places of workCiter ce document
Marc Fleurbaey, « Workplace Democracy, the Bicameral Firm, and Stakeholder Theory », HAL-SHS : économie et finance, ID : 10.1177/00323292231163700
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Résumé
Ferreras's bicameral governance proposal for the corporation contributes to a recent wave of interest in democratizing the workplace. In this article, I connect this to a related ongoing movement in favor of the stakeholder approach to corporate purpose. I argue that this connection sheds light on, and may provide remedies for, some issues with the bicameral proposal: first, the risk of gridlock between the two parties in the dual governance structure; second, the indeterminacy of good management when shareholder primacy is abandoned. But I also note that shareholder primacy emerged spontaneously from structural features of the economy, so that special protection for the “good” firms is warranted, and that other key limitations of a market economy cannot be alleviated fully by democratizing the firm.