Co‐determination, Efficiency and Productivity
研究了德国大型企业董事会层面共同决定制度对生产率的影响，发现1976年扩展至平等共同决定具有正向生产率效应，尽管数据覆盖两次严重衰退且面板较短。
Abstract We present the first panel estimates of the productivity effects of the unique German institution of parity, board‐level co‐determination. Although our data span two severe recessions when labour hoarding costs of co‐determination are probably highest, and the panel is too short to capture the likely long‐run benefits in terms of human capital formation and job satisfaction, we find positive productivity effects of the 1976 extension to parity co‐determination in large firms.