Participation: an asset of Corporate Governance in MNC’s. Does the SE provide an advantage for enterprises and investors? Dr. Sigurt Vitols Science Center.

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Presentation transcript:

Participation: an asset of Corporate Governance in MNC’s. Does the SE provide an advantage for enterprises and investors? Dr. Sigurt Vitols Science Center Berlin (WZB) Presentation prepared for the SEEurope Network Conference, November 2004, Brussels

Key Questions for the Study Internationalization and company change Resulting challenges for HRM Workers’ Participation: The Management View EWC + SE

Study Design DJ Stoxx 600 Postal survey of 165 Companies w/ EWC 63 Replies (38 % Response Rate) 13 In-depth Interviews Access to Lift.com Participants

Internationalization at Company Level Weakening of National HQ vis-a-vis Regional and/or Divisional HQ Regional Production + Sales Strategies Product + process standardization Regional/divisional HRM upgraded Increased Monitoring by Capital Markets + NGOs Uneven Process

Examples of Company Change Centralization at GM Europe HQ/Detroit BP European HQ in Paris Devolution of responsibility to divisions (e.g. Degussa, Zeneca) Centralization of risk management function in financial services

Challenges for European HRM Understanding national cultural and legal differences Harmonization of HRM policy which respects national differences Create “real” corporate culture/identity Encourage cross-border mobility of employees Develop truly international management cadre Implementing European legislation (e.g. timely info for EWC) “Think globally and act locally” Increase local control/monitoring w/o increasing bureaucracy CSR/Sustainability/Code Implementation

European Employee Participation 2/3 managers see EWCs positively + have plans for improvement Better communication, acceptance, decisions Decrease in decision speed No “country of origin” effect However: significant minority negative Near-consensus: no negotiating rights, no strengthened Directive

Some Benefits of EWCs Upgrading of HR function Discussion of new topics: strategy, finances, health + safety, training From information to consultation Agreements/statements on: –Health and safety –Sustainable development –Social + ethical charters

Enlightened Managers: EWC future role More confident information conduit More informed consultative body able to act as a genuine interlocutor A serious and active partner A key role in European social dialogue A brainstorming group A platform for a constructive social dialogue and wide-ranging communication

Adoption of SE: Wait and See? 8 %: likely to adopt 12 %: “unthinkable” 80 %: “Might be considered but unlikely that it would be adopted” Key issues: taxation, simplification of corporate structure, financial reporting + transparency, employee representation

Participation + SE: Possible Advantages Upgrading of HRM function Improvement in employee communication + motivation, implementation of change Independent force monitoring management „New“ issues: CSR, transparency, pension funds Role for trade unions?